Strategic Maintenance
Key Performance Indicators
While many key performance indicators can be measured to assure the success of your maintenance strategy, improvement in just two — Overall Equipment Effectiveness (OEE) and Return on Net Assets (RONA) — can validate your maintenance strategy.
Overall Equipment Effectiveness
OEE is a statistical metric for machine and/or process efficiency. It is calculated by multiplying Rate X Quality X Availability. The product is the value a machine contributes to the production process.
OEE >75% is pretty good, but don't stand still. Drive to world class: >80% for batch processes and >85% for continuous processes (Maintenance Technology, February 2006)
- %Availability x %Quality x %Rate = Overall Equipment Effectiveness (OEE)
Return on Net Assets
This metric calculates how well a company converts assets to sales, and therefore profits. The simple calculation is Plant Revenue minus Costs divided by Net Assets.
- ( Plant Revenue — Costs ) / Net Assets = Return on Net Assests (RONA)