An operations and maintenance (O&M) service is the outsourcing of the day-to-day management and maintenance of a system, facility, or asset to an external service provider. This strategic business model allows companies to focus on their core competencies while a specialized third party ensures their physical assets run safely, efficiently, and continuously. O&M service providers are common in asset-intensive industries like energy, manufacturing, and transportation.
Types of O&M services
Facility management: For commercial buildings, this includes managing day-to-day operations like cleaning, security, energy, and maintenance.
Preventive and predictive maintenance: This covers scheduled maintenance activities to prevent unexpected breakdowns and using data analytics and sensors to anticipate potential failures.
Corrective and reactive maintenance: This service handles unscheduled, emergency work needed to repair equipment that has already malfunctioned or failed.
Remote monitoring and management: Service providers can offer 24/7 monitoring of asset performance, often using IoT technology, to track issues in real-time and provide remote support.
Asset management: This is a broader service that includes financial management, risk mitigation, and performance optimization in addition to physical upkeep.
Startup and commissioning: Some O&M service providers offer support to ensure a smooth transition from project completion to full operation, such as for new energy projects.
O&M manual creation: Specialized providers can handle the creation of comprehensive O&M manuals for facilities and equipment, ensuring high-quality, consistent documentation for compliance and safe operation.
