Wu, Shaomin, 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. (doi:10.1016/j.ejor.2012.09.034) (KAR id:37714)
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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.
Item Type: | Article |
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DOI/Identification number: | 10.1016/j.ejor.2012.09.034 |
Uncontrolled keywords: | Birnbaum importance, structural function, cost-based importance, Barlow-Proschan importance, risk-based importance. |
Subjects: |
Q Science > QA Mathematics (inc Computing science) > QA273 Probabilities T Technology > TA Engineering (General). Civil engineering (General) > TA168 Systems engineering |
Divisions: | Divisions > Kent Business School - Division > Department of Analytics, Operations and Systems |
Depositing User: | Shaomin Wu |
Date Deposited: | 03 Jan 2014 17:11 UTC |
Last Modified: | 16 Nov 2021 10:14 UTC |
Resource URI: | https://kar.kent.ac.uk/id/eprint/37714 (The current URI for this page, for reference purposes) |
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