Risk based policy for preventive maintenance
(2005) IESM′05 — Location: Marrakech, Maroc
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- Authors
- Abstract
- (en) Current maintenance policies are time oriented and still based on expected cost or availability optimization rather than being optimized with risk-cost considerations. Maintenance managers look continuously for the way to improve the availability of their production machines in order to assure given production throughputs. They want to achieve this goal at the lowest expenditure. One of their major concerns is then budget allocation. They are willing to spend money if the reliability improvement of their assets is guaranteed. This paper proposes a new version of the modified bloc replacement strategy (MBRP) with a risk-cost consideration. We analyze the impact of this maintenance strategy for a single component system for various risk level. We highlight the impact of the decision maker's acceptable risk levels on the scheduled dates of preventive maintenance activities.
- Affiliations
Louvain School of Management Accounting & Finance
Citations
Roux, O., Bardey, D., & Riane, F. (2005). Risk based policy for preventive maintenance. IESM′05, Marrakech, Maroc. https://hdl.handle.net/2078.5/128794