This standard provides guidelines for the financial management of building maintenance. It covers aspects like budgeting, cost control, sources of finance (including sinking funds), and long-term financial planning to ensure the preservation and functionality of building assets.
Guidelines for Maintenance Management of Buildings, Part 2: Finance
Quick Reference Values
Typical contingency for labour planning10-15% of total man-hours
Suggested supervisor to worker ratio1:10 to 1:15
Target productive time for maintenance crew60-70% of total duty time
Illustrative norm for painting (one coat)0.015 man-days per sqm
Illustrative norm for fixing wash basin0.50 man-days per number
Key Formulas
S = P [((1+i)^n - 1) / i] — Sinking Fund accumulation formula, where P is annual instalment, i is rate of interest, n is number of years
Practical Notes
This code is a valuable tool for facility managers to benchmark the productivity of their in-house or contracted maintenance teams.
The illustrative norms provided are a starting point; it is recommended to develop specific norms based on a building's unique conditions and work analysis.
Emphasis on Clause 7 (Safety) is critical to reduce accidents during maintenance, which are often non-routine and carry higher risks.