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Routine Repair | |
 Property restored as a result of normal wear and tear, neglect, or damage is accomplished through routine repair. Repair can be classified as minor or major, depending upon the policy of the organization. Major repairs are typically accomplished as a project. Policies and procedures need to be developed by the organization to properly manage and account repair activities Corrective Maintenance and Retrofits. Work required to maintain the quality (Standard of Maintenance), and to reach the anticipated useful life of the fixed asset. In some cases this may require the replacement and/or retrofit of an item of permanent investment or plant equipment. Policies and procedures need to be formulated by the organization to account for and manage these requirements. |
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| Next we look at preventative and programmed maintenance >>> | ||