To PM or Not to PM is the wrong question. What to PM and at what frequency is the right question. Every facility has unique factors influencing the health of its equipment, and unique consequences of equipment failure. Due to manpower and budget issues, our 40 substation, facility?s robust PM program became seriously degraded, duration of activities being extended 3&4 times their former schedule. Fortunately no serious damage or outages occurred but when we got back in to it we learned quite a bit. For example the dry type 13800 primary transformers we had been servicing annually got along just fine for 3-4 yrs. The 480V draw out breakers that rarely had any issues on their former 3 yr schedule were a different story. Several would not trip or could not close after being opened. One was jammed up in the gear due to deterioration of mechanical parts, some had problems with the electronic trip units. PMing is a ?pay me now or pay me later? fact of life.