Optimal inspection under semi‐markovian deterioration: The catastrophic case

Armando Z. Milioni and Stanley R. Pliska

Naval Research Logistics (NRL), 1988, vol. 35, issue 5, 393-411

Abstract: One seeks the optimal inspection schedule for a system whose deterioration process is a semi‐Markov process that progresses toward failure. Costs are incurred for each inspection, each false positive, and any corrective actions. There is no cost of failure, since failure is catastrophic. Two problems are analyzed. First, one wishes to minimize the expected costs subject to the constraint that the probability of failure be less than a specified value. Alternatively, one wishes to minimize the probability of failure subject to the constraint that a specified number of inspections are performed. A computational example, based on a problem of medical screening, is provided.

Date: 1988
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https://doi.org/10.1002/1520-6750(198810)35:53.0.CO;2-N

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:35:y:1988:i:5:p:393-411

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