Modeling of dependent competing risks by first passage times of Wiener processes

Bo Lindqvist and Guro Skogsrud

IISE Transactions, 2009, vol. 41, issue 1, 72-80

Abstract: Consider the competing risks situation for a component which may be subject to either a failure or a preventive maintenance action, where the latter will prevent the failure. It is then reasonable to expect a dependence between the time to failure and the time to preventive maintenance. This paper briefly reviews some modeling approaches and introduces a new approach based on modeling of the degradation of a component by means of Wiener processes, with failure corresponding to the first crossing of a certain level, and potential time for maintenance corresponding to the crossing of a certain lower degradation level.

Date: 2009
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DOI: 10.1080/07408170802322697

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