Utility based maintenance analysis using a Random Sign censoring model

Andrés Christen, J., Fabrizio Ruggeri and Enrique Villa

Reliability Engineering and System Safety, 2011, vol. 96, issue 3, 425-431

Abstract: Industrial systems subject to failures are usually inspected when there are evident signs of an imminent failure. Maintenance is therefore performed at a random time, somehow dependent on the failure mechanism. A competing risk model, namely a Random Sign model, is considered to relate failure and maintenance times. We propose a novel Bayesian analysis of the model and apply it to actual data from a water pump in an oil refinery. The design of an optimal maintenance policy is then discussed under a formal decision theoretic approach, analyzing the goodness of the current maintenance policy and making decisions about the optimal maintenance time.

Keywords: Competing risks; Bayesian analysis; MCMC; Failure times; Optimal maintenance time (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0951832010002383
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:96:y:2011:i:3:p:425-431

DOI: 10.1016/j.ress.2010.11.001

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
Bibliographic data for series maintained by Catherine Liu ().