This article unveiled the causes of engineering plant failure. Re examined preventive, corrective/shutdown and predictive maintenance strategies in light of the prevalent maintenance approaches in a contemporary engineering and developing nation, in a bid to proffer effective maintenance strategies that will provide an acceptable level of plant operation. It found maintenance to be a practice that is carried out following detection of an anomaly and aimed at restoring normal operating conditions. This article also revealed that there is no one plant maintenance strategy for all situations and all organizations. Rather, one requires a blend of maintenance strategies that are right for a given operation and for the age of the equipment. Finally, in consideration of the colossal losses in varieties of ways emanating from ineffective maintenance strategies; concludes that it has becomes absolute necessary that the resource managers have to strictly consider the implementation of the suggested strategies of effective engineering plant maintenance with acceptable level of risk, in an efficient and cost-effective manner, as were articulated in this paper.