Planned Preventative Maintenance (PPM)
I understand my property requires maintaining, but how can I plan and budget for it?
A Planned Preventative Maintenance schedule forecasts the likely expenditure for structure, fabric, mechanical and electrical elements of a building. They are used predominantly by managing surveyors who use the cost information to plan their annual service charge budgets.
The forecast is sometimes requested by lenders prior to acquiring property, to ensure the investor is adequately informed of the future maintenance liabilities of that property, and as such they are able to financially plan for the expense, and how this may affect the capital value of the asset.
Our PPM service can determine the following:
- The elemental condition of the property
- Details of what works are required to maintain the property
- The time and cost when such works will be required
A Life Cycle Cost Analysis (LCCA) differs from a PPM schedule by assessing the capital expenditure for elements of building over a longer period of time. Where a PPM schedule predicts the on going maintenance to keep elements in repair, a LCCA assess when the elements requires wholesale replacement due to failure and doesn't take into account the ongoing maintenance of the element.