The whole issue of exactly how to set up a preventive maintenance program is a bit outside my range of expertise.   On the other hand, like most lean tools, preventive maintenance isn't rocket science.  The basic approach is to develop a PM checklist for each machine or piece of equipment and a schedule for carrying out each list.  It's all just a larger version of changing your car oil every 10,000 miles (in my case...maybe I should revisit my schedule).  In fact, your operation may already have a pretty sophisticated approach to PM.  I've worked at plants where all the PM checklists were entered into the IT system and comprehensive checklists were "spit out" by the computer as per the pre-determined schedule.

I've found that effective PM is another of those approaches that depends more on discipline than on method.  I know I'm supposed to change my oil every 5000 miles (I know the car and oil companies say every 3000, but I think that's bogus) but I just don't get it done.  I've never gone into a plant that said, "Preventive maintenance?  What's that?"  (Actually, I've been into lots of plants where the operators said exactly that but I've never heard top leadership say it.)  Everybody knows they're supposed to be carrying out preventive maintenance but they've gotten better at coming up with excuses for not doing it than they have for approaches for getting it done.

I'm not going to go on too long about the benefits of actually doing PM in a disciplined way...I'd be very much preaching to the choir.  I'll just say that you really only need:

1. A PM checklist for each machine,
2. A schedule for carrying out the checklist,
3. Discipline to actually get it done.