5 Things You Should Know About Maintenance KPI Metrics
What are metrics?
Maintenance metrics are parameters used to measure how the maintenance crew is sincere, talented, and efficient at work. Metrics also indicate how assets operate without breakdowns or malfunctions, how often preventive maintenance tasks are performed, etc. Metrics and KPI reveal the budget consumption trend and overall maintenance progress, at a facility. You can use them to compare the maintenance performance between different facilities.
Difference between metrics & KPI
Maintenance metrics and Maintenance KPIs are not the same. KPIs are digits that relate organizational progress to maintenance performance, while metrics connect maintenance performance to maintenance actions. In short, maintenance KPIs are a target your business is aiming. Maintenance metrics are the arrows you’re firing at that target. Confusing? Just read the para below for cent percent clarity on this.
For instance, your primary business goal might be increasing revenue by 20%. Equipment downtime is inversely related to the goal. Lesser the equipment is running, the fewer the products are manufactured. Therefore, one of your maintenance KPIs is downtime.
All those parameters that affect downtime such as First Time Fix Rate(FTFR) and Mean Time to Repair (MTTR) are maintenance metrics.
The significance of maintenance metrics
Having the numbers makes it easier to perform a SWOT analysis -I.e., strengths, weaknesses, opportunities, and threats for improvement in maintenance performance for supporting overall improvement in business processes. Metrics convey a clear picture on how daily maintenance chores impact the bigger picture. You gain control over maintenance operations and practical ways to improve work.
Keeping assets running at peak performance is crucial to the success of any organization. So organizations must have a well-established standardized processes to track and manage their assets. Automate work orders to maximize the uptime of your assets. Metrics help you realize where you stand now concerning your goals and set quality benchmarks to make improvements.
Types of KPI & metrics
i) KPI Metrics on Asset performance – Preventive compliance, Scheduled vs Assigned, Work order by category, Availability uptime, Total downtime hours, MTTR, MTBF, Total spend time, etc.
ii) KPI Metrics on Technician performance – Average response & resolution time, On time arrival, First time fixed-rate(FTFR), Technician Performance, Repeated Problems, SLA Compliance, etc.
iii) KPI Metrics related to Budget – No. of hours worked, No. of breakdown calls, Spare Consumption, No. of Assets, etc.
iv) IoT-related metrics– Energy usage tenant, facility wise; visitor traffic towards and away from key location; visitor management-related metrics, etc.
How to compute & extract KPI & metric values?
A competent EAM/FMS/CMMS software calculates metrics automatically for you. View the metrics from the Dashboard page of web-based and mobile applications of the above software.
Make the right investment for digital transformation of your maintenance business for arriving at wise data-driven decisions, planning for quick meetings, identifying training requirements, setting performance goals, and generating new avenues for reducing utility costs and operating expenses.