L11 - Production, Pricing, and Market Structure; Size Distribution of FirmsReturn

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.