If you have ever studied economics or statistics, you may be familiar with the term “Pareto distribution.” This natural phenomenon has been used to describe distributions in social, economic, geographic, and financial models across time. Simply put, the Pareto principle asserts that:
Approximately 80% of a resource will be distributed to 20% of the group that holds it.
This principle was first used to describe income distributions in America, but the principle has been observed in other settings such as:
- 80% of a population (human or animal) will inhabit 20% of the available territory
- 80% of oil reserves are found in only 20% of known oil fields
- 80% of a video gamer’s time is spent playing only 20% of games owned on Steam (a video game purchasing platform).
This principle can be observed in the professional setting as well. 80% of your progress or performance comes from 20% of the work you do. This is true for almost every department of your business, including maintenance. Most of the results you achieve from preventative maintenance of a building come from a small fraction of tasks your maintenance team completes on a monthly basis.
Therefore, it is the job of the facility manager to maximize that 20% and achieve the best results for the facility as a whole. You must thoroughly analyze your expenses, your typical maintenance needs in a month or year, and determine what tasks are contributing the most to reduced downtime and reactive maintenance costs. Some of these areas might include:
- HVAC preventative care – Preventative maintenance on HVAC systems can reduce energy costs and extend the service life of a high-ticket system.
- Plumbing maintenance – Emergency plumbing repairs are not only expensive but are a leading cause of downtime and interruption at a facility. Preventative care helps you avoid these costly measures.
- Electrical safety services – Electrical systems can pose real safety hazards if they are not properly maintained. Simple safety checks and preventative care can reduce your emergency repair costs and keep your tenants safe.
- Roofing maintenance – Roofing can last decades if it is properly maintained. Simple preventative checks can help you avoid costly water damage from leaks and help maintain indoor air quality, which can be a big contributor to energy expenses.
These changes to your maintenance plan can make a major impact on the productivity of your facility as a whole. To learn more, contact your local MaintenX team today!