This formula can sound a little overwhelming, but let’s start simple. How much will the pump be worth in 5 or 10 years? It can be a big difference. The remaining value has to do with the pump’s longevity. Two different pumps will likely have different levels of output, produce different qualities, and have different environmental implications. Downtime involves the labor costs of employees whose work is delayed, indirect labor costs from supervisors who address the issue, lost production, and lost customers from inability to meet time expectations. While you could include downtime along with the cost of maintenance, it is often so large that it warrants its own category. This also includes reactive maintenance when the equipment breaks down unexpectedly. Maintenance includes the cost of regular repairs such as cleaning, inspecting, lubricating, and adjusting the pump to make sure it is in optimal condition. If the pump is complicated to use, the cost of training will increase. Operation is the cost to install the pump, test the pump, train employees to run the pump, and the cost of energy to operate the pump. As previously stated, this is less than 10 percent of the Total Cost of Ownership (TCO). The initial cost is the number that appears on the price tag.
