Modelling and Analysis of Degradation and Maintenance

D. N. P. Murthy () and Nat Jack ()
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D. N. P. Murthy: University of Queensland
Nat Jack: University of Abertay Dundee

Chapter Chapter 3 in Extended Warranties, Maintenance Service and Lease Contracts, 2014, pp 47-76 from Springer

Abstract: Abstract Models play an important role in solving decision problems. They are used to (i) analyse the effect of changes to decision variables on system performance (for example, the effect of different PM actions on system failures) and (ii) decide on the optimal values of decision variables to achieve some specified objectives (for example, optimum PM to minimise total maintenance costs).

Keywords: Hazard Function; Intensity Function; Maintenance Action; Repair Time; Maintenance Policy (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-1-4471-6440-1_3

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