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Budget and ROI Management

Budget and ROI Management

In today’s highly competitive and cost-constrained operating environments, it is more critical than ever to have the ability to effectively plan and monitor the deployment and performance of company assets.

Return on investment – return on asset – 3-5 years timeframe

In the investment assessment there are a number of assumptions regarding costs to keep the asset in operation. These costs should be included in the operation and maintenance budget and followed up. Any critical deviations should be analyzed and actions should be taken.

The information about the investment performance is also important as input to future investments to improve the investment process. The data needed to monitor and analyze the asset performance is defined and added to the data that are reported back in the everyday operation and maintenance process. Some data like enery consumption must be logged on-line from the automation or MES system. Other data can be entered manually from inspection work orders. When setting up the data collection it is critical that the information is mapped against the equipment structure in a consistent way.

The connection to the asset structure and the gathering of all asset related data and costs/losses/problems makes the EAM IT solution the natural system to collect asset related data. Production and quality related analysis such as OEE must be integrated into the asset information database to make it possible to separate asset related analysis from product, production process and operations processes like logistics and order related reasons to production stops.

Maintenance budget process – one year timeframe

The maintenance budget process starts with a first set of preventive maintenance plans that are entered into the EAM system. These are typically based on the suppliers recommendations or taken from the companies own experience. The initial plans are often connected to the equipment guarantees and therefore they must be applied. To the planned PM plans an estimation of corrective work and costs are entered on top of the PM plans. This is derived from the last year's outcome or from experience. In a Prevas Infor EAM solution the summarized workload over the year can be viewed per discipline and plans can be optimized for an even workload in a “drag and drop” manner. Decisions about out-sourcing of projects or tasks can be taken and the planning of maintenance together with rebuilds of other projects can be made. In this process it will also be obvious if the maintenance can be planned or if there is a lack of resources that might be impossible to solve with planning.

In connection to the yearly budget process the information is updated and each PM plan is analyzed, starting with plans on critical “A assets” and assets that have caused the most call-outs and costs over the year. If there have been a number of checks or preventive work done without any found problem, the plan is adjusted accordingly. Prevas Infor EAM solution has all the tools needed  to perform this process in an efficient and automated way. The Infor EAM solution can even be set up to automatically adjust the PM plan according to reported outcomes from a number of previous inspections.

The revised budget should, at least yearly, be checked against the initial investment data, to see if the asset investment plan is followed or if actions like rebuilds or replacement of systems or components can be justified. The data is also valuable leverage in future negotiations with the company´s suppliers.

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