If you want to reach and then exceed global standards for maintenance management, you need to find KPIs that show both your current position and general trajectory, where you are and where you're heading. The right KPIs show if you're lined up or set to miss your target.
But before you get started, remember that there's no one perfect set that works for everyone. Different industries and organizations measure their performance differently. To find the right ones for you, you'll need to look at the types of assets you manage and your specific short- and long-term goals. And it's not a case of the more, the merrier. It's important to be choosy and focus on only the ones that help you line up and really aim at your target.
Now that we know the whys, let's look at the whats. We'll go over the maintenance metrics that you can track as key performance indicators (KPIs) to improve your maintenance management software.
Important KPIs to track with Maintenance Management Software
- Planned maintenance percentage (PMP)
- Overall equipment effectiveness (OEE)
- Mean time to repair (MTTR)
- Mean time between failure (MTBF)
Planned maintenance percentage (PMP)
Compares the time spent on planned and unplanned maintenance. Basically, you're comparing all the time spent on scheduled work orders to all the time spent on reactive, on-demand ones. PMP also helps identify how often an asset is available. Ideally, 90% of your maintenance activities should be scheduled ahead of time.
Planned maintenance percentage is a vital indicator for tracking the health of a PM program and identifying avenues to decrease reactive maintenance. PMP can also be used to figure out the reason of equipment downtime, poor efficiency, and lack of proper implementation so that these issues can be handled.
To calculate PMP,
PMP = (scheduled maintenance time/total maintenance hours) x 100
Overall equipment effectiveness (OEE)
OEE helps track an asset's productivity, providing valuable insights into a maintenance plan's effectiveness. It focuses on three key factors: quality, performance, and availability. An OEE of 100% means every process is running at maximum efficiency, with zero breakdowns and good quality outcomes.
Wikipedia defines it as, "Overall equipment effectiveness (OEE) is a measure of how well a manufacturing operation is utilized (facilities, time and material) compared to its full potential, during the periods when it is scheduled to run. It identifies the percentage of manufacturing time that is truly productive. An OEE of 100% means that only good parts are produced (100% quality), at the maximum speed (100% performance), and without interruption (100% availability)."
To calculate OEE,
OEE = availability x performance x quality
Mean time to repair (MTTR)
MTTR is the average time taken for an asset to be diagnosed, repaired, and rehabilitated after a breakdown or failure. The idea is to reduce MTTR as much as possible by speeding up the recovery process. By tracking this KPI, organizations improve asset availability.
To calculate MTTR,
MTTR = (total downtime periods/ total number of repairs)
Mean time between failure (MTBF)
Measures the average time an asset is up and healthy between bouts of unplanned downtime. Basically, it tells you the average time an asset runs between failures.
The KPI helps identify how long a specific asset or its parts generally last, allowing you to set your preventive maintenance schedule. If an asset usually runs about three weeks between failures, think about setting your PMs for every two and a half weeks.
To calculate the MTBF,
MTBF= (sum of operational time/total number of failures)
Preventive maintenance compliance (PMC)
Measures the percentage of maintenance work orders scheduled and completed during a set time, and helps organizations measure the effectiveness of their preventive maintenance plans. For example, you might have 80 work orders scheduled but only 68 complete at the end of the month.
To calculate PMC,
Preventive Maintenance Compliance = (68/80) x 100 = 85%
But you have to be careful with this KPI. It doesn't tell you how many of those PMs were completed on time. So, you might have four PMs scheduled over the course of the next week, all of them due by Thursday. If you close all of them out late, let's say you do all of them on Friday, your PMC( Preventive Maintenance Compliance) is still going to be 100%. Something is wrong with your PM program, and this KPI is not showing it.
Now that we have explored some of the KPIs we can track, we need to dig deeper and see how to track them. You'll need the right tools, process, and people.
Track maintenance KPIs easily
Your three main weapons for measuring maintenance KPIs are tools, processes, and people. Tools help capture the data points and calculate the metrics. Processes turn these data points into insights that help you create strategies. Finally, people help run the tools, execute the processes, and implement the strategies.
In order to make this all happen, you'll need an efficient way to collect, store, and leverage data. You'll need maintenance management software. The software also helps automate work orders, notifications, and report, improving your processes and leading to better decision-making. If you're interested in KPIs (and you have to be if you're interested in setting and hitting maintenance goals), now's the time to start talking with maintenance management software providers.