# Asset Cost Analysis

The Total Maintenance Cost sub-dashboard provides a comprehensive view of the financial implications associated with maintaining and operating an asset over its lifecycle. This information is crucial for making informed decisions about asset replacement, budgeting, and optimizing maintenance strategies.

Total cost as % of asset's purchase price.

This metric represents the total maintenance cost as a percentage of the asset's purchase price.

In general, organizations aim to keep their maintenance cost as a lower percentage of purchase price. Tracking this metric guides decisions on repair-or-replace strategies and overall maintenance optimization efforts.

# Total Maintenance Cost:

This figure represents the cumulative cost of all maintenance activities, including labor, materials, and additional expenses, performed on the asset within the given time frame.

# Downtime and Costs

This section provides a visual representation of the asset's downtime and associated costs over time.

The bar chart displays the total downtime (hours) and the corresponding costs incurred during each downtime event.

This information can help identify patterns, trends, or anomalies in downtime events and their associated costs, enabling proactive maintenance planning and cost optimization.

# Downtime and Costs Trends

The line graph titled "Downtime and Costs trends" displays the historical trends of total maintenance costs and total downtime hours over an extended period.

This visualization helps track the long-term trends of maintenance expenses and asset downtime, providing insights into the asset's reliability and the effectiveness of maintenance strategies.

# Practical Use Cases

Budgeting and Forecasting: By analyzing the total maintenance costs, organizations can better budget for future maintenance activities and forecast potential financial impacts.

Trend Analysis: The Downtime and Costs trends graph can be used to analyze the long-term reliability of the asset. A decreasing trend in downtime could indicate improved asset reliability or successful maintenance interventions.A large spike in downtime and costs could indicate a significant maintenance event, such as a major repair or overhaul, which may require further investigation to understand its cause and impact on the asset's performance.

Operational Decision Making: Understanding the relationship between downtime and maintenance costs can inform decisions on whether to continue maintaining an asset or to invest in a new one.