Maintenance

Ordinary Repair: Routine Maintenance without Significant Value Increase
Ordinary repair refers to routine maintenance activities that aim to keep the property in good condition without significantly increasing its value. These are regular upkeep actions necessary to preserve the fully functional status of a property.
Prognostics: Predicting Future Performance and Remaining Useful Life of a System
Prognostics involves the prediction of the future performance and the remaining useful life of a system using data analysis, statistical models, and machine learning techniques. This field is crucial in various industries to prevent system failures and optimize maintenance.
Refurbishment: Modern Improvements and Updates
Refurbishment involves restoring or updating a product, building, or piece of equipment to bring it back into a state of usability and modern relevance, often incorporating upgrades and improvements.
Off Time: A Period Without Active Service
Off Time refers to the period when a computer, machine, or any equipment is not in active use, often for purposes like maintenance, repairs, or scheduled non-usage.
Preventive Maintenance: Ensuring Longevity of Property and Equipment
Keeping property and equipment in a good state of repair to minimize the need for costly major repairs or replacements. The life of a system can be prolonged through continual preventive maintenance.
Servicing: Regular Maintenance and Financial Management
An in-depth look at the concept of servicing including its general application in equipment maintenance and its specialized role in financial loan management.
Upkeep: Necessary Care and Management
Comprehensive explanation of the necessary care and management of equipment and operations, emphasizing the importance of continual maintenance to prevent system breakdowns.

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