The Econometric Reliability of Selected Strategies Affecting Maintenance

The problem of evaluating the effectiveness of various strategies on maintenance both in design and operation is addressed in detail. The background, mathematical models and examples are given illustrating the effects of these strategies on the present worth of revenue requirements in electric power generating stations. The models take into account the total cost of ownership including capital, operating and maintenance, heat rates, replacement energy and reserve capacity costs. The reliability equations take into account failure rates, repair times, preventive maintenance intervals, diagnostic testing, redundancy and standby testing.