A Markov decision process framework for optimal operation of monitored multi-state systems

Michele Compare, Paolo Marelli, Piero Baraldi and Enrico Zio

Journal of Risk and Reliability, 2018, vol. 232, issue 6, 677-689

Abstract: We develop a decision support framework based on Markov decision processes to maximize the profit from the operation of a multi-state system. This framework enables a comprehensive management of the multi-state system, which considers the maintenance decisions together with those on the multi-state system operation setting, that is, its loading condition and configuration. The decisions are informed by a condition monitoring system, which estimates the health state of the multi-state system components. The approach is shown with reference to a mechanical system made up of components affected by fatigue.

Keywords: Multi-component system; Markov decision process; optimal maintenance policy; optimal operation policy; prognostics and health management; condition-based maintenance (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:risrel:v:232:y:2018:i:6:p:677-689

DOI: 10.1177/1748006X18757077

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