Trading off asset performance and condition to model strategic maintenance decisions

Research output: Chapter in Book/Report/Conference proceedingConference contribution book

Abstract

This work is motivated by a utility operating a multi-component system which is faced with the problem of assigning limited maintenance resources. The current state of a single component is described in terms of performance and degradation condition to a given time and the failure rates of each component are interdependent. Multiple maintenance actions are available and the potential decision choices are which component to select for maintenance and which type of maintenance to perform, where decisions are made and actioned over different time-scales and represent focus on long-term or short-term gains. A Markov decision process is proposed to model the trade-offs between condition-based and performance-based maintenance in order to support effective and efficient strategic maintenance management.
Original languageEnglish
Title of host publicationSafety, Reliability and Risk Analysis
Subtitle of host publicationBeyond the Horizon
EditorsR.D.J.M Steenbergen, P.H.A.J.M van Gelder, S Miraglia, A.C.W.M Ton, Vrouwenvelder
Place of PublicationBoca Raton
Pages723–731
Number of pages9
DOIs
Publication statusPublished - 2013
EventESREL 2013 - Amsterdam, Netherlands
Duration: 30 Sep 2013 → …

Conference

ConferenceESREL 2013
CountryNetherlands
CityAmsterdam
Period30/09/13 → …

Keywords

  • trading off
  • asset performance
  • condition to model
  • strategic maintenance decisions

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