Abstract
There are a number of formal approaches available for companies wishing either to introduce planned maintenance strategies or to rationalize existing ones. In addition to providing major financial benefits, however, such approaches may also have significant cost implications. This paper describes how financial evaluation can be used to select the optimum approach and implementation philosophy. It details how such an evaluation has to consider improvements in maintenance department efficiency and the effect these improvements can have on the overall performance of the company. The company-wide costs and benefits of formal approaches to planned maintenance are examined; contrary to established opinion, it is demonstrated that these can be both identified and quantified. Check-lists of such factors are provided.