This refers to regularly scheduled service, inspections, and component replacements performed to mitigate the risk of unexpected breakdowns. Its goal is to prevent failures before they occur, often based on time intervals, usage meters, or manufacturer recommendations.

Taking prevention a step further, PdM uses data analytics, sensor technology (e.g., vibration analysis, thermography, oil analysis), and machine learning to monitor asset condition in real-time. This allows maintenance to be performed only when indicators suggest a potential failure is imminent, optimizing resource allocation and extending asset life by intervening precisely when needed.

Also known as Reactive Maintenance, CM is the unscheduled repair work initiated after a fault or failure has already occurred. While often seen as a last resort, it's essential for restoring functionality quickly when proactive measures fail, or for assets where proactive maintenance isn't cost-effective.

 An overhaul involves a comprehensive restoration of an asset, often requiring complete disassembly, inspection, repair or replacement of worn parts, and reassembly to bring it back to a 'like-new' or specified operational standard. This extensive intervention is typically performed on critical equipment after significant operational hours or when major degradation is detected, aiming to extend the asset's useful life substantially.