Abstract: Some embodiments of the invention include a novel system and process for rating maintenance risk on healthcare and general industry equipment. In some embodiments, the system includes a set of tools that provide accurate initial maintenance budgets and performance monitoring of actual service costs related to industry equipment. In some embodiments, the system uses the set of tools to automatically benchmark and rate maintenance risk on the devices and equipment in relation to associated service agreements. In some embodiments, the system uses the set of tools to analyze the devices and equipment related to the service agreements and monitor events associated with devices and equipment placed in service. In some embodiments, the set of tools of the system includes a maintenance risk calculation tool that calculates risk and automates performance of benchmarking and maintenance risk rating on the devices and equipment.