Beyond its cost, the value of maintenance: An analytical framework for capturing its net present value

Karen B. Marais and Joseph H. Saleh

Reliability Engineering and System Safety, 2009, vol. 94, issue 2, 644-657

Abstract: Maintenance planning and activities have grown dramatically in importance across many industries and are increasingly recognized as drivers of competitiveness if managed appropriately. Correlated with this observation is the proliferation of maintenance optimization techniques in the technical literature. But while all these models deal with the cost of maintenance (as an objective function or a constraint), only a handful addresses the notion of value of maintenance, and seldom in an analytical or quantitative way.

Keywords: Maintenance; Present value; Directed graph; Value trajectory; Multi-state failure (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:94:y:2009:i:2:p:644-657

DOI: 10.1016/j.ress.2008.07.004

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