Edwards, D J; Holt, G D and Harris, F C (1999) Predicting maintenance expenditure on construction plant: Model development and performance analysis. Journal of Financial Management of Property and Construction, 4(1), pp. 31-46. ISSN 1366-4387
Abstract
Salient findings of a twelve month study, designed to predict the average hourly maintenance costs of tracked hydraulic excavators are presented. In order to achieve the research, close collaboratory links were forged with numerous Plant manufacturers and construction contractors operating in opencast mining. A random sample of 33 machines were used for model development. Analysis presented, shows multiple linear regression analysis to be an excellent technique for predicting the maintenance costs of tracked hydraulic excavators operating in the UK opencast mining industry. Machine weight; type of industry; regular use of predictive maintenance; and type of machine are revealed as key predictor variables due to their strong positive linear relationship with machine maintenance costs Overall the performance of the model was good, having an R2 of 0.94, an MPE of minus 11.07 percent and a MAPE of 2.48 percent. The paper concludes with direction for future work, that is, extending the model to other sectors of the UK construction industry.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction plant, maintenance costs, multiple regression, performance analysis, tracked hydraulic excavators |
| Index terms: | mining, regression analysis, construction plant, maintenance cost, manufacturer, model development, multiple-regression, construction contractor, hydraulic, performance analysis, construction industry, predictive maintenance |
| Subjects: | analytical methods, industry analysis, financial management, practitioner, fluid mechanics, construction equipment, maintenance engineering, statistical analysis, geotechnical engineering, data analysis and analytics |
| Topics: | Roles and Professions, Business Strategy, Engineering Principles, Plant and Equipment, Research Practice |
| Descriptive scope: | 4 PCTA |
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