Executive Summary
Economics of PM has three levels of view. The top level can be called macro economic analysis. In this type of view, the company determines if PM approaches seem sensible at all considering the organization’s goals and the needs and requirements of the business or field. To make that decision an organization would go through the current costs of operation. For a better term you should use semi-micro view for the second level. This view decides what strategy is best suited for a particular machine or group of machines. The third view is task view or micro view. In this view, the price and impact of each task is compared to the price and impact of the failure mode the work is attempting to prevent.