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Get Your Maintenance Management Terminology Down!

Maintenance Budgeting

Maintenance Budgeting is the process of planning and allocating financial resources for the maintenance of assets and facilities. It involves forecasting the costs of maintenance activities, such as repairs, replacements, and preventive maintenance, and setting aside funds to cover those costs. Maintenance budgeting is an important part of maintenance operations and management, as it helps to ensure that the necessary resources are available to keep assets and facilities in good working order. It also helps to ensure that maintenance activities are carried out in a timely and cost-effective manner. Maintenance budgeting typically involves analyzing past maintenance costs, estimating future costs, and setting aside funds to cover those costs. It also involves monitoring and controlling the budget to ensure that it is being used efficiently and effectively.

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