Full definition
Total direct and indirect expenditures incurred by the maintenance function: internal and contracted labor, materials and spare parts, tools and equipment, specialized services (analysis, calibration), training and information systems (CMMS). International benchmark: 2-5% of asset replacement value per year. Life Cycle Cost (LCC) additionally includes acquisition cost, energy, lost production and disposal. KPI: maintenance cost per unit produced. A $1 increase in predictive maintenance saves $3-5 in corrective costs.