The purpose of maintenance is to reduce societal, business, and personal risks. However, the cost associated with maintenance actions should not exceed the value of the risks being eliminated and the associated benefits reflected in terms of increased productivity or reduced number of accidents, etc. In world-class organizations, in general, maintenance decisions are based on a sound cost-benefit-risk analysis. Maintenance costs analysis should include direct, consequential, and indirect costs; intangible costs; opportunity costs; and the cost of potential risks. Benefits should include all direct and indirect revenues and intangible benefits, such as increased productivity from improved employee safety, etc. The contribution of maintenance to the success of organizations has been increasingly recognized. The role of maintenance managers has been naturally extended into their involvement in strategic planning issues, such as production capacity or renewal of equipment planning. This includes the selection of technological solutions and maintenance cost quantification and optimization within life cycle cost (LCC) analysis, which, in turn, contributes to the study of the consequences for the investments to be made. Maintenance itself, in all its areas of intervention, is very difficult to manage, given the variability of situations where it has to intervene and its evolution over time. Probably for this reason, maintenance management is the most recent variable to be considered when organizations try to increase their competitive advantages. Approaches like on-condition maintenance, predictive maintenance, reliability, virtual reality, certification attempts, and key performance indicators are only some of the many maintenance fields or, in other words, LCC fields that motivate organizations to work better and increase their market value. The competitiveness of organizations is increasingly dependent on the optimization of the LCC of their physical assets and how well they achieve their required function. Depending on the sector, the cost of maintaining physical assets represents around 5%–۲۰% of the added value achieved by maintenance; 5%–۱۲% of the total capital invested; 1%–۱۵% of gross sales; 3%–۱۰% of the production costs. These are strong reasons to emphasize the importance of maintenance costs in the annual budget and within LCC. Maintenance costs are a fact of everyday life. Nevertheless, when engineers who have good knowledge of mathematics and technical skills are presented with cost theory, there is a clear gap in their knowledge, especially when discussing cost–benefit analysis, etc.