Papers by Keyword: Long Run Cost Rate

Abstract: Condition-based Maintenance (CBM) can not only efficiently improve the performance of deteriorating system but also guarantee the system operation safety. This paper assumes that the system state is periodically inspected, and a preventive maintenance is performed if the degradation level exceeds a threshold. The effect of maintenance is imperfect, which means that maintenance can restore the system state to somewhere between as good as new and as bad as old. The algorithm is presented to get the solution of long run cost based on Monte-Carlo simulation, and the joint optimization of inspection rate, the threshold value and the number of preventive maintenance activities is investigated for the minimization of long run cost rate. A case study is given to show the procedure of the maintenance model and simulation. Therefore, the correctness and rationality of the model are proved.