Facilities maintenance costs can rapidly grow. In the field of modern facilities management, a simple HVAC system malfunction could result in thousands of additional costs, increasing the total cost of ownership and decreasing ability to handle other maintenance needs. This contributes to the backlog of maintenance needs, further increasing facilities maintenance costs. However, Facilities Managers can use data to reduce facilities maintenance costs in several ways through the power of modern technologies, including smart analytics and better work order tracking.
Poor Visibility Into Maintenance Spend Increases Deferred Maintenance
Managing the asset lifecycle is essential to reduce facility maintenance costs. As noted by Buildings.com, managing the asset lifecycle effectively lowers the incidence of reactive maintenance and plan fewer repair tasks. Facility Managers schedule maintenance on the HVAC system, and during the visit, the technician identifies and corrects another issue within the asset. Part of the problem with managing to facility maintenance cost goes back to vendor management. Improper vendor management can dramatically increase facility maintenance costs, resulting in extra hours to perform work, after our service calls and more. In addition, selecting the wrong vendor could lead to higher per-hour rates for maintenance needs. Unfortunately, poor visibility into facilities assets further increases the likelihood of premature asset failure.
Data-Based Decision-Making Decreases TCO
Modern maintenance strategies are built on a common principle—reducing maintenance spend. While the data support a proactive maintenance strategy, up to 50 percent of facilities continue to rely on reactive maintenance as their overall strategy, says Interchange. Using data to make decisions regarding the facility maintenance backlog and prioritization schedule can have the effect of reducing facility maintenance costs. Facilities Managers that understand where maintenance needs may arise before they can precipitate an unforeseen failure can proactively manage facility maintenance spend.
Best Practices in Using Data to Reduce Facility Maintenance Costs
Understanding the best practices and using data to reduce facility maintenance costs can go a long way in reducing facilities spend and ensuring the proper needs are met. As explained by Accruent, following a few best practices for using data can help drive facility maintenance costs to retreat, including:
- Review financial impact.
- Deploy third-party resources.
- View granular data.
- Use dashboarding tools to oversee the entire operation.
- Manage dispatch in a timely manner.
- Establish attributes for managing data aggregation.
- Identify relationships between data with analytics.
- Troubleshoot using data.
- Manage manufacturer data to get the most from warranties or guarantees.
- Integrate all systems.
Gain Control Over Facility Maintenance Costs Now
Facility Managers need to reduce costs and increase adherence to the budget should consider using data-tracking technologies and resources to make informed decisions about which maintenance needs take a higher priority. In addition, Facility Managers should follow the affirmation best practices and take advantage of outsourced facility maintenance services, like those offered by QSI Facilities. Visit QSI Facilities online or call 1-888-328-2454 to get started.