Maintenance policies based on time-dependent repair cost limits
Date
2006-11
Authors
Beichelt, F.
Nkadimeng, R.M.
Yadavalli, S.S.
Journal Title
Journal ISSN
Volume Title
Publisher
Academy of Science of South Africa (ASSAf)
Abstract
This paper considers two replacement policies for systems which, during their useful life, are subject to deterioration. Strategy 1: after a failure, the repair cost is estimated. If the repair cost exceeds a given limit, the system is not repaired, but replaced with a new one. So far, this policy has been analysed only for constant repair cost limits. This paper investigates the effect of applying time-dependent repair cost limits on the long-run maintenance cost rate. Examples show that, compared to the application of constant repair cost limits, a reduction of the maintenance cost rate between 5% and 10% can be expected. Strategy 2: the system is replaced as soon as the total repair costs arising during its running time exceed a given limit. Compared to the economic lifetime method, which is based on the average repair cost development and that requires the same data input, maintenance cost savings up to 20% could be achieved.
Description
Keywords
cost-benefit analysis, maintenance, policy analysis, repair
Citation
Beichelt, F.,Nkadimeng, R.M. and Yadavalli,S.S. 2006. Maintenance policies based on time-dependent repair cost limits. South African Journal of Science 102 (11/12), pp.597-600.