Overview
Overall, the goal of developing a maintenance budget is to ensure that the site’s maintenance and reliability needs are met in a cost-effective and efficient manner, while also ensuring that the maintenance budget is aligned with the organization's overall financial goals and objectives. Risk Based Budgeting (RBB) allows the site to rank “Major” maintenance repairs based on the risk that the equipment poses to the site in the coming fiscal year. By using this method, it drives dialogue with decision makers on the specific work activities that will reduce the risk to the environment, people and the profits of the site.
Description of Service
Below are the typical steps involved in the process:
Duration
A typical engagement will be one/two week(s) based on the size and complexity of the facility. While this exercise can be performed virtually, it is recommended that the consultant work with the team onsite for greater context and availability to data and site personnel. If performed onsite, the consultant will arrive on site on Monday afternoon and will work with the team through Thursday afternoon. This will be repeated for a second week if necessary, depending on the number of repairs that need to be analyzed. A report out to leadership will be conducted at the end of the process. This can also be done virtually or onsite per the site’s preference.
For more information, contact us at info@prelical.com
Risk-Based Budgeting for Maintenance