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A cost-based importance measure for system components: An extension of the Birnbaum importance

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  • Wu, Shaomin
  • Coolen, Frank P.A.
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    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.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0377221712007138
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    Bibliographic Info

    Article provided by Elsevier in its journal European Journal of Operational Research.

    Volume (Year): 225 (2013)
    Issue (Month): 1 ()
    Pages: 189-195

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    Handle: RePEc:eee:ejores:v:225:y:2013:i:1:p:189-195

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    Web page: http://www.elsevier.com/locate/eor

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    Keywords: Birnbaum importance; Structural function; Cost-based importance; Barlow–Proschan importance; Risk-based importance;

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    1. Xiang, Yanping & Levitin, Gregory, 2012. "Combined m-consecutive and k-out-of-n sliding window systems," European Journal of Operational Research, Elsevier, vol. 219(1), pages 105-113.
    2. Barlow, Richard E. & Proschan, Frank, 1975. "Importance of system components and fault tree events," Stochastic Processes and their Applications, Elsevier, vol. 3(2), pages 153-173, April.
    3. Gao, Xueli & Cui, Lirong & Li, Jinlin, 2007. "Analysis for joint importance of components in a coherent system," European Journal of Operational Research, Elsevier, vol. 182(1), pages 282-299, October.
    4. Do Van, Phuc & Barros, Anne & Bérenguer, Christophe, 2010. "From differential to difference importance measures for Markov reliability models," European Journal of Operational Research, Elsevier, vol. 204(3), pages 513-521, August.
    5. Natvig, Bent, 1979. "A suggestion of a new measure of importance of system components," Stochastic Processes and their Applications, Elsevier, vol. 9(3), pages 319-330, December.
    6. Borgonovo, E., 2010. "The reliability importance of components and prime implicants in coherent and non-coherent systems including total-order interactions," European Journal of Operational Research, Elsevier, vol. 204(3), pages 485-495, August.
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