Cost Optimization of Some Stochastic Maintenance Policies

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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.

Original languageEnglish
Pages (from-to)133-136
Number of pages4
JournalIEEE Transactions on Reliability
VolumeR-28
Issue number2
DOIs
StatePublished - 1 Jan 1979
Externally publishedYes

Keywords

  • Discounting
  • Maintenance policiess
  • Optimization
  • Preparedness policies
  • Stochastic processes

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