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.
- Maintenance policiess
- Preparedness policies
- Stochastic processes
ASJC Scopus subject areas
- Safety, Risk, Reliability and Quality
- Electrical and Electronic Engineering