Align corporate financial goals directly with asset uptime and risk-mitigation metrics.
In modern asset-intensive industries, maintenance is no longer seen as a cost center but as a value driver. Ramesh Gulati’s work (e.g., in Maintenance and Reliability Best Practices ) stresses that reliability must be designed, managed, and continuously improved. This paper synthesizes widely adopted best practices from such sources.
True reliability is achieved by systematically identifying chronic, repetitive asset problems and permanently designing them out of the facility.
Total maintenance costs are tracked as a controlled percentage of the Estimated Replacement Value (ERV) of the plant assets, typically targeting below 2% to 3% annually. 2. Leadership, Culture, and Human Capital