Risk assessment methodologies in maintenance decision making: A review of dependability modelling approaches

Peter Chemweno, Liliane Pintelon, Peter Nganga Muchiri and Adriaan Van Horenbeek

Reliability Engineering and System Safety, 2018, vol. 173, issue C, 64-77

Abstract: The risk assessment process performs an important role in maintenance decision making, through structuring the process of identifying, prioritizing, and thereafter formulating effective maintenance strategies. However, the effectiveness of the implemented strategies is influenced by the extent to which asset failure dependencies are taken into account during the risk assessment process. In the literature, several risk assessment methods are discussed that vary widely depending on factors such as modelling of failure dependencies in dynamic assets, and treating uncertainties associated with sparse reliability data. These factors invariably influence the extent to which different risk assessment methods are applicable for maintenance decision making. This article reviews the state-of-the-art knowledge on risk assessment in the context of maintenance decision making, with a particular focus on dependability modelling methods. The review structures knowledge on dependability modelling approaches, treatment of uncertainty, and highlights important challenges researchers and practitioners are likely to experience when performing risk assessment in the context of maintenance decision making. The challenges highlighted include the resolution complexity of methods such as Bayesian networks, especially while assessing risks of assets with complex failure dependencies.

Keywords: Asset failure; Risk assessment; Dependability modelling; Uncertainty; Maintenance decision making (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0951832016301934
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:173:y:2018:i:c:p:64-77

DOI: 10.1016/j.ress.2018.01.011

Access Statistics for this article

Reliability Engineering and System Safety is currently edited by Carlos Guedes Soares

More articles in Reliability Engineering and System Safety from Elsevier
Bibliographic data for series maintained by Catherine Liu ().