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Asset Cost & Downtime Report

A report on costs associated to asset and downtime totals associated with assets

Updated over a week ago

These reports allow you to track the cost associated with assets over periods of time by logging both planned and unplanned downtime. By recording and analyzing downtime, you can identify patterns, reduce inefficiencies, and improve overall asset utilization.

Some terms and metrics to understand:

  • Total Downtime - Total offline Hours (Planned + Unplanned)

  • Online - asset is functioning correctly

  • Offline - asset is no longer in operation

  • Planned Downtime - Hours logged as planned due to planned maintenance or inspection

  • Unplanned Downtime - Hours logged as unplanned due to unexpected breakdown of asset

  • MTTR (Mean Time to Repair) - Average time to repair an asset

    • MTTR – Efficiency

    • Formula: Total Unplanned Downtime ÷ Number of Downtime Events

    • Goal: Lower = Better

    • Example: 6 hours ÷ 3 events = 2h MTTR

    • Click Maint rounds to 1 decimal place (e.g., 0.167h → 0.2h)

  • MTBF (Mean Time Between Failures)- Average time an asset stays operational without failure

    • MTBF – Reliability

    • Formula: Total Operational Time ÷ Number of Failures

    • Goal: Higher = Better

Guide

  1. Click the Reports & KPI module on the main menu. The module displays numerous KPIs and reports for the current month by default.

  2. Use the Date Picker to select a different time frame, then click Apply to view updated results.

  3. To access more detailed information, click on the expand icon within the Asset Cost and Downtime Report section.

  4. Once the report is open, notice, this report shows the KPIs and graph across the top for Cost or select the Downtime to switch reports data.

  5. Click on Filters to find specifics within your list view of results.

  6. Click on the Export icon to download the report to your computer then print.

Benefits

An Asset Cost and Downtime Report that includes both planned and unplanned downtime offers several valuable benefits. Here's a breakdowndowntime of the key advantages:

  • Improved Asset Performance Visibility - Gives complete picture of availability and helps identify which assets are underperforming or frequently out of service.

  • Accurate Cost Analysis - Associates maintenance costs (labor, parts, etc.) with specific downtime events.

  • Data-Driven Maintenance Strategy - Provides the ability to analyze failure patterns, maintenance effectiveness, and identify opportunities for improving preventive maintenance schedules.

  • Compliance and Audit Readiness - Logs all downtime events, which may be required for regulatory or quality compliance and help meet standards for asset management.

  • Better resource allocation - Shows where workers, parts, and other resources are being used too much because of downtime. This helps plan for maintenance windows and technician scheduling.

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