Budgeting: A Strategic Approach To Achieve Value For Money In Maintenance Management

Figure 2: Before developing the maintenance budget, the maintenance department needs to prepare the maintenance plan to determine the required maintenance tasks. The condition assessment and the inventories are the essential elements that need to be conducted (Ouertani, Parlikad, & McFarlane, 2008; Talamo & Bonanomi, 2015). Hence, the maintenance activities can be identified; planning and scheduling the maintenance task can be estimated. The work orders can be issued with the justification of maintenance requirement and specifications. The preparation of maintenance budget will include the priorities, regular monitoring and reporting, policy requirements and relevant costs (labor rates, equipment rates, material costs and contract services) (Department of Housing and Public Works, 2012; Kelly, 2007). Figure 02 shows the maintenance management process in developing the maintenance budget.

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