 Is our mission profitable: The cost-effectiveness curve with a possibility of a mission abortMaxim Finkelstein and Ji Hwan Cha Reliability Engineering and System Safety, 2025, vol. 257, issue PA Abstract: We consider missions of fixed and random duration and are interested in their cost-effectiveness at each instant of time. As a measure of quality, the difference between the expected conditional profit (on condition that a system is operable at the current time) and a profit already earned up to this time in case of a mission abort is suggested. This takes into account the corresponding penalties and rewards due to abort or completion of a mission, respectively. However, the main focus is on cost-effective missions and requirements for achieving it. As a result, the cost effectiveness curve is obtained for two cases: with and without observing a univariate degradation process of a system. Specifically, when the degradation is observable, the cost effectiveness curve (at each instant of a mission time) indicates the value of degradation on exceeding which, a mission becomes non-profitable with respect to the suggested criterion. The detailed numerical examples illustrate our findings. Keywords: Mission abort; Expected profit; Degradation; Stationary stochastic process; Survival probability (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:257:y:2025:i:pa:s0951832025000560 DOI: 10.1016/j.ress.2025.110853 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 |
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