bluefield_logo
Opening Hours
Mon-Fri | 8am - 5pm
Email
info@bluefield.com.au
Telephone
1300 931 543
Contact Us
  • Services
    • Asset Management Strategies and Planning
    • Analysis and Optimisation
    • Project Management and Delivery
    • Process Reviews and Improvement
    • Maintenance and Reliability Improvement
    • Asset Health and Integrity Support
    • Training and Leadership Support
    • Specialist Advice and Support
  • Kepner-Tregoe
  • webRE
  • Resources
    • Blogs
    • Case Studies
    • Free Downloads
    • Simplifying Mining Maintenance
    • 30 in 30 Podcast
    • Quizzes
  • About Us
    • Careers
    • Our Team
    • Testimonials
    • Locations
  • Industries
    • Mining
    • Minerals Processing
    • Smelting and Refining
    • Transport and Rail
    • Ports and Logistics
    • Utilities and Water
  • Bluefield Academy
    • Effective Maintenance Supervision

    Budget Review & Development

    Every maintenance department must develop and review a budget regularly. Often however, budgets are typically pulled together at a high level usually heavily influenced by last year’s numbers. The problem we see with developing budgets this way is, when the requests come through to justify or cut the budget, there is little detailed supporting evidence. This practice often leads to cuts to the budget without a plan or idea as to where the savings are going to come from and what risk it might introduce that needs to be flagged.

    The Bluefield approach is to develop a holistic maintenance budget utilising individual asset life cycle costs as the building blocks of the budget. The first step is to define the boundaries of the budget to ensure all the assets to be included are captured and accounted for. Data for the assets and other inputs (e.g. labour) are then collected and collated ready for analysis.

    Once the available information has been collected and the boundaries set, a detailed basis of estimate is compiled. This is a critical step in the process to ensure everyone has a clear understanding of the sources of data and the assumptions made during the building of the budget. It provides clarity in the future to see and understand the key inputs into the build when anyone else is reviewing.

    We then work with the clients to setup up the budget outputs to match their requirements. As soon as we have the output setup, we run the budget forecast against the current asset strategies with the focus placed on critical assets. This provides a snapshot of the budget as things stand against the current strategies.

    Sometimes, business constraints require the budget to be reviewed to reduce costs. This can be tricky when you do not have the details behind what makes up the budget and where you are going to look to reduce it. We work with clients to help them identify areas of opportunity to save and understand the potential risks this may introduce. This can only be effective when you have a clear understanding of not only the cost forecast but also the underlying asset management plans/strategies to understand where the opportunities lie that allow for informed decisions to be made.

    In addition to helping clients build their budgets, Bluefield often receives requests to peer review client maintenance budgets that have been developed. This external peer review provides Maintenance Managers with a level of confidence when submitting their final budgets. Bluefield’s approach when conducting peer reviews is to follow similar steps as when we build one. By following the process of building a budget, it allows us to confirm all aspects have been considered, assumptions are documented, and risks are known. While we go through this process we will capture anything that may have been overlooked, question assumptions that appear out of place, and review the risks that have been identified.

    If you need a new budget or require a peer review of your existing budget, reach out today to discuss how Bluefield can partner with your team to achieve a well-balanced budget.

    Related Content

    • Blog | Bluefield Round Table: Zero-Based Budgeting - Waste of Time or Greatest Thing Since Sliced Bread?
    • Blog | Embracing the New Normal: Preparing Applications for Budget and Capital Expenditure

    Some words from

    Our Happy Clients

    Cristian Ramos
    “Bluefield achieved high impact, effective results for SSR Puna´s mine and plant maintenance planning (in Argentina), adapting to our requirements from the beginning and managing to focus our maintenance culture. Thus generating the following benefits:   Mine: development of component plans for the ...

    Cristian Ramos

    Plant Manager, SSR Mining Inc.
    Jason McCallum
    “I have utilised Bluefield, on three separate occasions and sites, to assist me to control the practices and standards that lead to mining equipment fire prevention. On these occasions Bluefield reviewed our fire prevention standards, maintenance plans, and maintenance execution performance to find ...

    Jason McCallum

    General Manager, Yancoal Australia Ltd
    Daryl Puyales
    “He’s thorough and provides exceptional value more than expected. Provides easy-to-digest analysis and data critical in Inventory Management Set-up and Operations.”

    Daryl Puyales

    Spares Procurement Co-ordinator
    FQM Cobre Panama Project
    Project Manager
    All 8 trucks are now complete, with only some minor paperwork to be finalised. 797F Fleet Operational Readiness

    Project Manager

    View more Testimonials
    Case Studies

    Get more from your assets.

    Resources

    • Case-Study
    September 01, 2020 | 1 mins to read

    Setting a Project up for Succe...

    By: Dan Grimsey
    • Case-Study
    August 03, 2020 | 2 mins to read

    Project Management - Complex P...

    Bluefield was engaged by a mining customer where t...
    • Blog
    December 14, 2020 | 1 mins to read

    Kepner-Tregoe Inc. and Bluefie...

    Kepner-Tregoe Inc. (KT), a global capability devel...
    • Blog
    December 09, 2020 | 6 mins to read

    How to Develop Your People Wit...

    Part Five - Why There are Cheaper and Better Optio...
    View All

    Sign up to get updates

    Our Newsletter

    Services

    • Asset Management Strategies and Planning
    • AM Policy & Framework Development
    • Strategic Asset Management Planning
    • Asset Specification Development
    • Asset Criticality Assessment
    • Asset Strategy Review and Development
    • Asset Management Plan Development
    • Spares Criticality Analysis & Optimisation
    • Maintenance Task & Service Sheet Development
    • Business Continuity Planning
    • Analysis and Optimisation
    • Life Cycle Cost Modelling
    • Workshop & Infrastructure Studies
    • Budget Review & Development
    • Project Management and Delivery
    • Asset Health and Integrity Support
    • Asset Integrity Reviews
    • Maintenance and Reliability Improvement
    • Bluefield Transformation
    • Maintenance Reviews & Evaluations
    • Maintenance Execution Improvements
    • Maintenance Organisational Design & Reviews
    • Failure Investigations & RCA Facilitation
    • Process Reviews and Improvement
    • AM Process Reviews & Audits
    • Training and Leadership Support
    • Planning Training
    • Supervisor Training
    • Project Management Training
    • Specialist Advice and Support
    • CMMS and Master Data Implementation
    • Rail & Transport Maintenance Improvement

    Industries

    • Mining
    • Minerals Processing
    • Smelting and Refining
    • Transport and Rail
    • Ports and Logistics
    • Utilities and Water

    Bluefield

    • About Bluefield
    • Bluefield Academy
    • Case Studies
    • Offices
    • Meet Our Team

    Resources

    • Capability Statement
    • Bluepapers
    • Free Downloads
    • Quizzes
    • Simplifying Mining Maintenance
    • 30 in 30 Podcast

    Certifications

    Certification logos_Bluefield AMS

    Copyright © 2020 Bluefield AMS Pty Ltd, All Rights Reserved | Privacy Statement