ROI: The plant manager's secret weapon for success
Return on investment (ROI) is a divisive issue among maintenance professionals.
Return on Investment (ROI) is a divisive issue among maintenance professionals. With budget cuts and small staffs, plant managers have all the work they can handle to keep the lights on and production running smoothly. In fact, more than half (58 percent) of respondents to a recent survey we conducted with Plant Services indicated that they did not measure their return on predictive maintenance and condition monitoring investments. This is an incredibly short-sighted approach as ROI provides a powerful metric that clearly communicates a department’s value to plant management. The ability to quantifiably measure the effectiveness of a department’s execution and output could serve as the difference between increasing the annual budget and receiving further cuts in maintenance spending.