Title :
Cost Optimization of Some Stochastic Maintenance Policies
Author_Institution :
Deparment of Management Science; The University of of Calgary; Calgary, Alberta T2N 1N4 CANADA.
fDate :
6/1/1979 12:00:00 AM
Abstract :
This paper examines a preparedness policy of a stochastically failing system. It deals with two yet unsolved problems in the field of maintenance policies. Problem 1 analyzes a model that includes a discount factor. Problem 2 analyzes a model that includes maintenance costs that change over time. The models are solved by a conventional method and by dynamic programming.
Keywords :
Art; Condition monitoring; Cost function; Dynamic programming; Inspection; Maintenance; Reliability theory; Stochastic processes; Stochastic systems; Discounting; Maintenance policies; Optimization; Preparedness policies; Stochastic processes;
Journal_Title :
Reliability, IEEE Transactions on
DOI :
10.1109/TR.1979.5220522
