All Glossary Terms
Estimated Plant Replacement Value (PRV)
Maintenance definition:
Estimated Plant Replacement Value (PRV) is the total cost to replace a facility's assets with new equivalents at current market prices. PRV is used for benchmarking maintenance costs, assessing insurance needs, and strategic planning. It provides a basis for evaluating the investment in maintenance relative to the value of the assets being maintained, helping organizations allocate resources effectively and justify maintenance expenditures.
