Course Overview
This course is equivalent to PEMAC Maintenance Management Professional Certification Program Module 4: Financial Management for the Maintenance Manager. This module focuses on applying financial management principles within the maintenance management role. It provides a strong foundation in key areas, including financial statements, project analysis, budgeting and forecasting, cost analysis for managerial decisions, and MRO inventory management. Participants will gain the skills needed to make informed decisions, effectively communicate with finance professionals, and support the overall success of their maintenance departments.
Prerequisite(s)
- 60% in PEMA 1000
Credits
2.5
- Not offered this term
- This course is not offered this term. Notify me to receive email notifications when the course opens for registration next term.
Learning Outcomes
Upon successful completion of the course, the student will be able to:
- Apply financial management principles to real-world maintenance scenarios.
- Analyze and interpret financial statements to assess the financial health of an organization.
- Develop and manage budgets for maintenance activities.
- Evaluate proposed maintenance projects using various investment appraisal techniques.
- Apply accounting principles to maintenance operations.
- Identify and manage different types of maintenance costs.
- Analyze and interpret financial data to identify areas for improvement in maintenance operations.
- Implement cost control measures to maximize the value of maintenance investments.
- Apply financial forecasting techniques to predict future maintenance costs and resource needs.
- Manage MRO inventory effectively to minimize downtime and costs.
- Communicate financial information effectively to stakeholders
Effective as of Winter 2025
Related Programs
Financial Management for the Maintenance Manager (PEMA 2020) is offered as a part of the following programs:
School of Energy
- Maintenance Management Professional
Statement of Completion Part-time
Programs and courses are subject to change without notice. Find out more about BCIT course cancellations.