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Four Practical Tips for Implementing a Preventative Maintenance Program

EstateSpace offers digital estate management system

Published: Wednesday, April 26, 2023 - 11:59

(EstateSpace: Great Falls, VA) -- In uncertain economic times, finding ways to save money is more important than ever. When you think of your valuable assets, you may think of investments, such as stocks, bonds, or trusts. But there is another type of asset to consider: nonfinancial assets such as properties, art, cars, jewelry, and appliances.

These nonfinancial assets don’t always come to mind, but they actually hold quite a bit of value. Plus, they are often essential components in everyday life and must be adequately maintained for optimal performance—because when these assets are not functioning at their best, it can cost you in the form of repair bills and lost time, not to mention the potential danger of faulty appliances or vehicles.

Preventative maintenance is essential in helping you extend your assets’ life. And when you maintain your assets regularly and correctly, it can save you a lot of time and money in the long run. Naturally, the more you know about preventive maintenance, the better you can manage your assets. Here are a few practical tips to help get you started:

1) Use a system to manage your assets

Are you keeping track of all your assets? Knowing what you have and its condition is the first step to developing a successful preventative maintenance program. Use an asset management system to help organize your inventory, track usage, and set up scheduled checkups.

2) Create a preventative maintenance schedule

Once you know what types of maintenance your assets require, create a checklist outlining the required schedule and tasks. Make sure to include both short-term and long-term maintenance goals and any preventive measures that need to be taken.

3) Set aside time for preventative maintenance

With all the other tasks on your plate, it can be easy to forget about preventative maintenance. But what gets scheduled gets done! Set aside a specific time each month, quarter, or year for maintenance and inspections, and ensure that nothing falls through the cracks.

4) Create an emergency plan

Unexpected breakdowns can happen even with preventative maintenance in place. To prepare for these types of scenarios, create an emergency plan that outlines the steps you should take if something goes wrong.

Create your personal preventative maintenance plan with EstateSpace

Preventative maintenance is an essential part of asset management that helps you keep your assets running longer and more efficiently. By implementing a preventative maintenance plan, you can help ensure your investments’ success while saving money in the long term.

Want to implement your own asset preventative maintenance program? EstateSpace’s digital estate management solution makes it easy to keep track of all your assets, create maintenance schedules, and more. When you can rely on your investments, you can focus more time and energy on achieving your financial goals. Visit EstateSpace to learn more.


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Quality Digest

For 40 years Quality Digest has been the go-to source for all things quality. Our newsletter, Quality Digest, shares expert commentary and relevant industry resources to assist our readers in their quest for continuous improvement. Our website includes every column and article from the newsletter since May 2009 as well as back issues of Quality Digest magazine to August 1995. We are committed to promoting a view wherein quality is not a niche, but an integral part of every phase of manufacturing and services.