Condition-Based Maintenance Policies for Modular Monotic Multi-state Systems

Michael Krause ()
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Michael Krause: Clausthal University of Technology

A chapter in Operations Research Proceedings 2014, 2016, pp 307-312 from Springer

Abstract: Abstract In this work, we consider a modular monotonic multi-state system, i.e., a system with several components evolving in different states, where the maintenance of a component cannot impair the performance of the system. A structure function provides the system performance depending on the states of its components. Furthermore, we suppose that for each component, the deterioration over time can be described by a deterministic or stochastic process with known properties. The amount of money to be spent on the components’ maintenance is limited by a given budget. A loss in the system performance results in opportunity costs. We try to find a component-specific maintenance policy which minimizes the opportunity cost over a finite planning horizon.

Keywords: Opportunity Cost; Planning Horizon; Deterministic Model; Maintenance Activity; Maintenance Policy (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:oprchp:978-3-319-28697-6_43

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DOI: 10.1007/978-3-319-28697-6_43

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