Defining an Asset Management strategy for Aerospace MRO functions using Monte Carlo methods

This paper proposes the application of the Monte Carlo simulation method towards developing an effective Asset Management system within an Aerospace Maintenance Repair and Overhaul facility. In this contribution the method is used to estimate the economic impact on the selection of a particular Asset Management strategy which involves the MRO functions relating to cockpit display units (DUs). The simulation demonstrates that it is possible to identify the most cost effective approach and thus suggests a suitable DU maintenance policy which in turn allows engineers to develop the appropriate asset maintenance schedules.