Reliability design of structural system with cost effectiveness during life cycle

This study deals with an economic analysis of structural systems using a reliability-based design method. In this paper, a new expected total cost concept, which includes initial cost, cost of reliability test, annual maintenance cost, penalty cost for designerʹs faults and losses by structural failure is proposed. In the proposed formulation, the minimum expected total cost during the life duration with the capital rate of interest and rate of price fluctuations could be evaluated by calculating the present currency and annual prediction procedure.