How can I balance the costs of preventive maintenance with the benefits of extended equipment lifespan and reduced downtime?

Balancing the costs of preventive maintenance with the benefits of extended equipment lifespan and reduced downtime involves considering the long-term financial implications of maintenance activities. While preventive maintenance may require upfront investments, it can lead to significant cost savings over time by reducing repair costs, energy consumption, and downtime. Consider conducting a cost-benefit analysis to quantify the returns on investment for your maintenance activities and adjust your schedule accordingly.