Estimation of Failure Cost in Life Cycle Cost of Power Equipment

Life Cycle Cost(LCC) is being more and more widely applied in the procurement and management of power equipment, however, the failure cost in LCC of the equipment is difficult to forecast because of uncertainty during its operation. According to the characteristic that the cumulative failure probability observes the Weibull distribution model, a new referential method is put forward in this paper. The parameters of Weibull model can be estimated with least square method and then the MTBF of power equipment is calculated, thus, the estimation model of failure cost is established. Electrical equipment can be classified into two kinds, non-repairable equipment and repairable equipment. In consideration of the particularity of the MTBF of repairable equipment, equal degradation theory is introduced to reveal the relationship between the MTBFs. In the end, an example is given to demonstrate the validity of the method discussed.