The roll-out of the Heavy Equipment Comparator survey results went well at AEMP’s Connect Conference as well as at CONEXPO-CON/AGG.
Co-presented by Preston Ingalls of AEMP and Caryl Coronis of CFMA, the sessions shared some of the preliminary results produced by Industry Insights from the survey. Herb Brownett, Rich King, and Doug Seyler also presented a session to highlight the Comparator at B2W Software’s Users Conference. As a reminder, the Heavy Equipment Comparator is a collection of 32 Key Performance Indicators (KPIs) divided into nine categories. The survey was a culmination of a three-year project launched as a collaboration effort between AEMP and CFMA. The original goals were:
1. Develop maintenance and reliability metrics using common terminology for the construction industry’s heavy equipment fleet maintenance process
2. Standardize terms and definitions
3. Establish standard calculation and formulation methods for metrics
4. Provide a common platform to benchmark performance between peers
5. Establish Industry Averages and Best in Class (BIC) Key Performance Indicators for comparison
Out of an identified eligible population of 530 companies, the survey providers received 57 entries (which met the 10% sample rule for statistical sample validity).
Some of the demographics for those who participated included:
o 73% held membership in Construction Financial Management Association (CFMA).
o 60% held membership in Associated General Contractors of America (AGC).
o 51% held membership in Association for Equipment Management Professionals (AEMP).
o 89% submitted for total company-wide while 11% represented a branch or division.
o 59% were non-union, 25% were union, while 17% were both.
o 76% used internal employees for primary maintenance activity while 24% used external resources.
o 43% used straight-line depreciation over useful life with salvage values compared to 25% using straight-line depreciation with no salvage values.