One of the main advantages of having a facility maintenance management KPI program is the ability to generate reports that help you evaluate relevant key performance indicators.
Knowing how to measure KPIs will help you obtain valuable and detailed information and focus on the data that really helps you grow your business.
What are maintenance management KPIs?
A maintenance indicator is essential for any company with assets whose proper functioning has an impact on activity and results.
Among the objectives of maintenance KPIs are:
- Preserve production
- Take care of the profitability of the equipment,
- Reduce costs
- Seek customer satisfaction,
- Improve working conditions and, therefore, productivity
The selection and application of maintenance management KPIs respond to the specific objectives of the company, so KPIs must be selected correctly and analyzed to be transformed into actions to be planned, based on your own needs (increased production , quality, well-being and safety of its employees, etc.).
How to choose the right maintenance KPIs?
The application of maintenance KPIs, or any other performance indicator, is directly linked to a certain objective that is supposed to lead the company to success.
Remember that data is what transforms desired results into actions, so all data must be collected properly to obtain transparent and accurate results.
The analysis of all this data must be done in the most reliable way possible to obtain fast and accurate results.
It is essential that a company chooses the right data to achieve satisfactory performance. Each team member must understand their importance and be able to realize the impact of their activities on achieving the company’s overall goals. Finally, the application of performance measures must be done with a clear initial idea of the desired result.
Examples of maintenance KPIs
Forget about having to review reports with unnecessary data or that have no impact on your business. These are some KPIs that you should evaluate for better maintenance of your facilities.
1. Maintenance cost per unit produced
For everyone working in the manufacturing industry, this is definitely one of the maintenance management KPIs to keep in mind.
Maintenance costs are part of the total production costs, so they must be reflected in the cost per unit.
2. Downtime per month
Every minute your system is unavailable (downtime) is a minute lost for your business. Your downtime should never exceed 10% each month, but it’s best to keep it at 1% or less!
3. Work completed on time
In a business where everything runs like clockwork, a large percentage of maintenance and repair work must be done on time, with rare exceptions of course, for example when a search for spare components or equipment has to be done.
If, on the other hand, many of the maintenance jobs are completed late, you have reason to worry.
These types of maintenance management KPIs help you know if constant delays are usually a symptom that your staff does not have the necessary equipment; there are not enough human resources; or the team does not have the right skills to get the job done on time.
4. Projected time vs. actual repair time
Maintenance teams should be able to predict how long it will take to complete a particular job. Then this estimated arrival time needs to be compared to the actual time, if there is a big difference between the two, something is wrong and that needs to be addressed.
5. Budgeted costs vs. real costs
Just as there are metrics around time, maintenance costs should also be budgeted on a quarterly or annual basis. If the budget is exceeded too frequently, you should discuss the matter with the technical operations manager and understand the reasons for these discrepancies.
Another metric you should keep an eye on is the number of parts the company needs to order during repairs. If your company is placing large and expensive orders during repairs, this must be taken into account when ordering new equipment and parts for stock.
6. Compliance with the schedule and planned maintenance
This indicator is, of course, one of the most important maintenance KPIs, since it defines the efficiency and commitment of technicians and managers to their planned tasks. Schedule compliance as a KPI measures the performance of the entire team, from decision makers to the actors who meet the schedule on a daily basis.
How many activities are carried out according to established guidelines? In general, managers measure date, time spent completing a task, and efficiency. Ideally, compliance should be defined as 90% or more.
7. Maintenance cost per section
In addition to the maintenance cost per unit, another important maintenance management KPI is the maintenance cost per section.
Not all departments have the same maintenance costs, so you need to determine which part of the organization spends the most resources and go to that particular department to make corrections.
Use a dashboard to manage the maintenance of your equipment and facilities
Knowing how to create a KPI dashboard allows you to have better visibility of important indicators for your business and act in a timely manner. In this case, to have better control of the facilities and equipment of your business, and not fall into unnecessary expenses or avoid errors that can be prevented.