This link takes you to an article, written by Woi Lin Koo and Tracy Van Hoy, at which a net present value and return on investment analysis is made for when preventive maintenance is done versus no preventive maintenance.  Fifteen types of building equipment were studied, e.g., air compressors, cooking towers, and chillers.  The purpose of the analysis was to determine whether preventive maintenance is justified for each type of equipment.  The results clearly show that preventive maintenance pays for itself and produces a good return on the investment.
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