Probabilistic Approach to Maintenance Scheduling

by Walter O. Wunderlich,



Document Type: Proceeding Paper

Part of: Soil Properties Evaluation from Centrifugal Models and Field Performance

Abstract:

Maintenance has the purpose of prolonging the working life of equipment and of sustaining expected levels of performance and reliability. If equipment deterioration is construed as a probabilistic transition process, the maintenance decision becomes a decision under uncertainty. A method is discussed that models the transitions as a Markov process and the decision maker's perception of risk by a utility function.

Subject Headings: Maintenance and operation | Markov process | Equipment and machinery | Probability | Risk management | Hydraulic models | Utilities

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