Acta Oeconomica Pragensia 2013, 21(4):34-48 | DOI: 10.18267/j.aop.409

Value Driven Management of Auxiliary Maintenance Processes and Its Application in Practice

Miroslav Špaček
Vysoká škola ekonomická v Praze, Fakulta podnikohospodářská (miroslav.spacek@vse.cz).

Maintenance performance measurement and evaluation is mostly underrated by companies. Even if maintenance activities contribute to customer value indirectly, it is not far from truth that the quality of maintenance processes may be decisive for winning a competitive advantage. This paper explains the concept of Value Driven Maintenance (VDM) as an approach focused on generating company value through proper alignment and management of company processes. In order to benefit from existing company processes, it is inevitable to set these processes into a proper strategic framework and align them efficiently so that maximum synergic effects can be generated. Economy and management offer a set of tools (e.g., cost-benefit analysis, financial analysis, static and dynamic methods of investment effectiveness evaluation, Balanced Scorecard, etc.) that can be useful for maintenance performance evaluation. This paper deals with the nature of these tools as well as the approach to the implementation of these practices in a company. The emphasis is on effective management of maintenance processes, in particular methods and tools to be used for maintenance performance measurement.

Keywords: Maintenance performance measurement, value driven maintenance, Balanced Scorecard, KPIs
JEL classification: L11

Published: August 1, 2013  Show citation

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Špaček, M. (2013). Value Driven Management of Auxiliary Maintenance Processes and Its Application in Practice. Acta Oeconomica Pragensia, 21(4), 34-48. doi: 10.18267/j.aop.409
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