Optimization of an aperiodic sequential inspection and condition-based maintenance policy driven by value of information

William Fauriat and Enrico Zio

Reliability Engineering and System Safety, 2020, vol. 204, issue C

Abstract: The issue of the optimal planning of inspection and maintenance actions for a randomly deteriorating system constitutes a difficult sequential decision-making problem in which the objective is generally to achieve minimal life-cycle cost. For mathematical tractability, most approaches rely either on the consideration of specific maintenance strategies, e.g. Periodic Inspection and Replacement (PIR), whose defining parameters are optimized, or on time-and-space-state discretization using Markov Decision Process (MDP) models and resolution through policy iteration. In both cases, optimality may be hard to guarantee. In this paper, the decision-theoretic concept of Value of Information (VoI) is used as a metric to guide resource prioritization in time, that is, to schedule inspections in a piecewise optimal manner.

Keywords: Value of information; Condition-Based maintenance; Inspection planning; Maintenance optimization; Sequential decision-making; Renewal theory; Imperfect information (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0951832020306347
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:204:y:2020:i:c:s0951832020306347

DOI: 10.1016/j.ress.2020.107133

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 ().