A finite-horizon condition-based maintenance policy for a two-unit system with dependent degradation processes

Bin Liu, Mahesh D. Pandey, Xiaolin Wang and Xiujie Zhao

European Journal of Operational Research, 2021, vol. 295, issue 2, 705-717

Abstract: This paper analyzes a condition-based maintenance (CBM) model for a system with two heterogeneous components in which degradation follows a bivariate gamma process. Unlike the traditional CBM formulation that assumes an infinite planning horizon, this paper evaluates the maintenance cost in a finite planning horizon, which is the practical case for most systems. In the proposed CBM policy, both components are periodically inspected and a preventive or corrective replacement might be carried out based on the state of degradation at inspection. The CBM model is formulated as a Markov decision process (MDP) and dynamic programming is used to compute the expected maintenance cost over a finite planning horizon.

Keywords: Reliability; Condition-based maintenance; Markov decision process; Finite horizon; Bivariate gamma process (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (36)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:295:y:2021:i:2:p:705-717

DOI: 10.1016/j.ejor.2021.03.010

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