Recognizing the industry's long-standing need for the uniformity in measuring off-road equipment maintenance performance and costs, Construction Financial Management Association (CFMA) and the Association of Equipment Management Professionals (AEMP) created the Heavy Equipment Comparator (HEC).
The Heavy Equipment Comparator establishes:
Common terminology, standard terms, and definitions.
Standard calculation and formulation methods for metrics.
A common platform of benchmark peer performance and evaluate fleet performance.
Industry averages and Best in Class key performance indicators (KPIs) for comparison.
By harnessing the power of the Heavy Equipment Comparator, construction industry professionals can optimize their fleet management practices, reduce costs, enhance equipment reliability, and unlock unparalleled operational efficiencies.
What's in the Heavy Equipment Comparator?
There are 32 KPIs in nine categories to help measure your heavy fleet’s performance and costs.
The HEC will help companies evaluate their own performance relative to that of similar companies in order to understand the health and effectiveness of their fleet operations and to identify improvement opportunities. The statistics in this report represent broad performance “yardsticks” against which a company’s performance can be measured.
The HEC will help you conduct an analysis with an interactive, side-by-side comparison of your fleet results versus industry benchmarks.
Flexible, reliable, and immediate reports and in-depth analysis
Select KPI measurements that can be used to benchmark and evaluate your company’s performance
Comparative charts and graphs perfect for high-powered presentations
Who benefits from the information?
Construction financial professionals, fleet managers and management teams They can identify operational issues and make the necessary adjustments to enhance fleet productivity.
CPA firms and consultants This information can be used to assist clients by providing “value-added” services in benchmarking and evaluating a client’s fleet results.
Using the information within this report, industry members can compare their own company’s or a client’s statistics against companies of similar type, comparable total revenue and Best-in-Class companies. Identifying significant differences between a company’s performance and comparable aggregates can be the first step toward recognizing opportunities to improve performance.
What are the products?
Heavy Equipment Comparator PDF+ A detailed analysis of industry results with information about each of the 32 financial and shop data points. Purchase of the PDF includes one Peer Group Comparison Report.
Peer Group Comparison Report This tool allows you to build an exportable file in which you select five of 41 industry categories, such as revenue, region of the country, Best in Class, and fleet type.
Heavy Equipment Comparator Subscription You receive the Heavy Equipment Comparator PDF, plus the ability to build as many Peer Group Comparison Reports as you need. This is helpful for those who want to do a deep dive into their fleet management or for service providers looking to help clients.
* Member prices applies to CFMA and/or AEMP members
How was the Heavy Equipment Comparator created?
In 2021, AEMP and CFMA created a task force of subject matter experts to develop a standard in the construction industry. After an initial feasibility study and “pre-survey” to capture member feedback, a committee was formed. This committee was composed of nine members of both associations and was ultimately responsible for identifying and defining 32 Key Performance Indicators (KPIs) spanning nine categories that are most critical to overall fleet performance.
How can I contribute?
The Heavy Equipment Comparator Survey is open to submit financial and operational information at hecomparator.com. To help gather information, download and use this Excel worksheet.
