Record number :

1573208

Title of article :

The probability distribution of maintenance cost of a system affected by the gamma process of degradation: Finite time solution

Author/Authors :

Cheng، نويسنده , , Tianjin and Pandey، نويسنده , , Mahesh D. and van der Weide، نويسنده , , J.A.M.، نويسنده ,

Issue Information :

روزنامه با شماره پیاپی سال 2012

Pages :

12

From page :

65

To page :

76

Abstract :

The stochastic gamma process has been widely used to model uncertain degradation in engineering systems and structures. The optimization of the condition-based maintenance (CBM) policy is typically based on the minimization of the asymptotic cost rate. In the financial planning of a maintenance program, however, a more accurate prediction interval for the cost is needed for prudent decision making. The prediction interval cannot be estimated unless the probability distribution of cost is known. In this context, the asymptotic cost rate has a limited utility.
aper presents the derivation of the probability distribution of maintenance cost, when the system degradation is modelled as a stochastic gamma process. A renewal equation is formulated to derive the characteristic function, then the discrete Fourier transform of the characteristic function leads to the complete probability distribution of cost in a finite time setting. The proposed approach is useful for a precise estimation of prediction limits and optimization of the maintenance cost.

Keywords :

Characteristic function , Probability distribution , Maintenance optimization , Condition-based maintenance , Stochastic degradation , Financial risk , Gamma process

Journal title :

Reliability Engineering and System Safety

Journal title :

Reliability Engineering and System Safety

Serial Year :

2012

Link To Document :