A recent survey by Wells Fargo reveals a noticeable shift towards greater construction activity compared to 2010. Could it be that the economy is turning around? And what does it mean for Facility Maintenance professionals?

About 38% of respondents (construction industry executives) in the Wells Fargo survey said that activity was "somewhat higher" or "much higher" than the year before. In 2010 that percentage was 28.5%. The economy appears to be improving and key economic indicators bode well for the construction industry and facility maintenance professionals. Are your facility managers ready for the task? What is their strategy for Facility Maintenance in the future?

Preventive Maintenance or Predictive Maintenance?

Preventive maintenance is scheduled routinely and occurs on a pre-determined basis. It is proactive, and is intended to increase efficiencies by reducing the amount of reactive work. Most importantly, it allows for the early identification of problems and significantly increases the life cycle of buildings and equipment, lowers expenditures and allows for better planning and budgeting. In addition, the cost of maintenance will likely increase over time as supplies, and man-hours become more expensive.

Predictive maintenance does have its benefits in a tough economy particularly because it can be less labor intensive than preventive maintenance. Predictive maintenance programs are based upon the actual condition of a building and equipment. In an attempt to minimize costs, it is usually determined at the time when maintenance should be performed. However, it is widely accepted that putting off a routine facility maintenance schedule will actually cost a business more in the long term.

The goal of a facility maintenance professional or business owner is to extend the life cycle of the equipment as long as possible at the most reasonable cost while ensuring the highest possible uptime. Facility maintenance professionals should not rely on just a predictive maintenance solution to save expenses especially if dealing with high value equipment or if safety is at stake.

Tough times call for tough decisions as both preventive and predictive maintenance programs have their place. The solution may be a combination of the two maintenance programs or it may be dependent on your industry, type of equipment and survival strategy. What is your company going to do?