2 research outputs found
Condition-based maintenance at both scheduled and unscheduled opportunities
Motivated by original equipment manufacturer (OEM) service and maintenance
practices we consider a single component subject to replacements at failure
instances and two types of preventive maintenance opportunities: scheduled,
which occur due to periodic system reviews of the equipment, and unscheduled,
which occur due to failures of other components in the system. Modelling the
state of the component appropriately and incorporating a realistic cost
structure for corrective maintenance as well as condition-based maintenance
(CBM), we derive the optimal CBM policy. In particular, we show that the
optimal long-run average cost policy for the model at hand is a control-limit
policy, where the control limit depends on the time until the next scheduled
opportunity. Furthermore, we explicitly calculate the long-run average cost for
any given control-limit time dependent policy and compare various policies
numerically.Comment: published at proceedings of the 9th IMA International Conference on
Modelling in Industrial Maintenance and Reliability (MIMAR), 201
An alternating risk reserve process - part I
We consider an alternating risk reserve process with a threshold dividend strategy. The process can be in two different states and the state of the process can only change just after claim arrival instants. If at such an instant the capital is below the threshold, the system is set to state 1 (paying no dividend), and if the capital is above the threshold, the system is set to state 2 (paying dividend). Our interest is in the survival probabilities. In the case of exponentially distributed claim sizes, survival probabilities are found by solving a system of integro-differential equations. In the case of generally distributed claim sizes, they are expressed in the survival probabilities of the corresponding standard risk reserve processes