An approach to maintenance optimization where safety issues are important

Vatn, Jørn and Terje Aven

Reliability Engineering and System Safety, 2010, vol. 95, issue 1, 58-63

Abstract: The starting point for this paper is a traditional approach to maintenance optimization where an object function is used for optimizing maintenance intervals. The object function reflects maintenance cost, cost of loss of production/services, as well as safety costs, and is based on a classical cost–benefit analysis approach where a value of prevented fatality (VPF) is used to weight the importance of safety. However, the rationale for such an approach could be questioned. What is the meaning of such a VPF figure, and is it sufficient to reflect the importance of safety by calculating the expected fatality loss VPF and potential loss of lives (PLL) as being done in the cost–benefit analyses? Should the VPF be the same number for all type of accidents, or should it be increased in case of multiple fatality accidents to reflect gross accident aversion?

Keywords: Maintenance optimization; Safety; Value of prevented fatality; Railway case study (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:95:y:2010:i:1:p:58-63

DOI: 10.1016/j.ress.2009.06.002

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