How do I determine cost savings?

[Pavel2]

I started vibration monitoring a year ago in my factory. Is there a formula one can use to determine costs saved in a shutdown for instance when in the past all bearings were changed on yearly basis but now only on my request?

 

[VibrationSpecialist]

Dear Pavel2;
You can request Maintenance Planner to extract previous history file and list all cost applied.
If you do not have this privilege, estimate the down time in hours and labor time and contact the contract department to give your hourly rating and then add this to the bearing changes.

I have attended the Annual Vibration Institute meeting this year and Howard Maxwell discussed this issue in a better details.

Take Care.
;-)