Wu, Shaomin and Coolen, Frank .P.A. (2013) A Cost-based Importance Measure for System Components: An Extension of the Birnbaum Importance. European Journal of Operational Research, 225 (1). pp. 189-195. ISSN 0377-2217 .
| The full text of this publication is not available from this repository. (Contact us about this Publication) | |
| Official URL http://dx.doi.org/10.1016/j.ejor.2012.09.034 |
Abstract
In reliability engineering, component importance measures are used to prioritise components in a system for purposes such as reliability improvement and maintenance planning. Existing importance measures have paid little attention to the costs incurred by maintaining a system and its components within a given time period. Cost-effectiveness analysis, however, is critically important in increasingly competitive markets. This paper proposes a new cost-based importance measure which considers costs incurred by maintaining a system and its components within a finite time horizon. Possible extensions are discussed and examples are given to show the use of the new measure. © 2012 Elsevier B.V. All rights reserved.
| Item Type: | Article |
|---|---|
| Additional information: | Unmapped bibliographic data: PY - 2012/// [EPrints field already has value set] JA - Eur J Oper Res [Field not mapped to EPrints] AD - Kent Business School, University of Kent, Canterbury, Kent CT2 7PE, United Kingdom [Field not mapped to EPrints] AD - Department of Mathematical Sciences, Durham University, Durham DH1 3LE, United Kingdom [Field not mapped to EPrints] |
| Uncontrolled keywords: | Barlow-Proschan importance, Birnbaum importance, Cost-based importance, Risk-based importance, Structural function |
| Subjects: | H Social Sciences H Social Sciences > HA Statistics > HA33 Management Science |
| Divisions: | Faculties > Social Sciences > Kent Business School Faculties > Social Sciences > Kent Business School > Management Science |
| Depositing User: | Cathy Norman |
| Date Deposited: | 26 Oct 2012 15:50 |
| Last Modified: | 23 May 2013 08:33 |
| Resource URI: | http://kar.kent.ac.uk/id/eprint/31992 (The current URI for this page, for reference purposes) |
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