Glossary

5S: organization, tidiness, purity, cleanliness, and discipline; focused on the work place, they are derived from five Japanese words beginning with the letter s
absenteeism: the act of missing work; being absent from a scheduled work shift
accounting: a functional department within a company with the task of compiling and analyzing all of the financial records for the company
asset management: the oversight of the life of an asset to achieve the lowest life cycle cost with the maximum availability, performance efficiency, and highest quality

benchmarking: a continuous improvement process of examining companies that are more effective in a specific process, learning how they became more effective, and then adapting their methods to your company's process, with the goal of being better at the process than the company that was benchmarked
best practice: a practice that leads to superior performance in a specific process
breakdown: an unexpected interruption to the service of a particular asset
breakdown maintenance: maintenance performed in response to a breakdown; typically costs two-to-four times as much compared to the same maintenance performed in a planned mode

cleaning: the act of removing contamination or other materials from an asset CMMS (Computerized Maintenance Management System) a software package designed to help manage the maintenance function
CMMS usage: the utilization of a CMMS; many companies achieve only a 50% utilization rate, preventing a realization of the full return on the investment in the software
competitive analysis: a comparison of a company's process with a specific...

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Developing Performance Indicators for Managing Maintenance, Second Edition