IDEAS home Printed from https://ideas.repec.org/a/pal/jorsoc/v54y2003i12d10.1057_palgrave.jors.2601633.html
   My bibliography  Save this article

Cost–benefit modelling for reliability growth

Author

Listed:
  • John Quigley

    (University of Strathclyde)

  • Lesley Walls

    (University of Strathclyde)

Abstract

Decisions during the reliability growth development process of engineering equipment involve trade-offs between cost and risk. However slight, there exists a chance an item of equipment will not function as planned during its specified life. Consequently the producer can incur a financial penalty. To date, reliability growth research has focussed on the development of models to estimate the rate of failure from test data. Such models are used to support decisions about the effectiveness of options to improve reliability. The extension of reliability growth models to incorporate financial costs associated with ‘unreliability’ is much neglected. In this paper, we extend a Bayesian reliability growth model to include cost analysis. The rationale of the stochastic process underpinning the growth model and the cost structures are described. The ways in which this model can be used to support cost–benefit analysis during product development are discussed and illustrated through a simple case.

Suggested Citation

  • John Quigley & Lesley Walls, 2003. "Cost–benefit modelling for reliability growth," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 54(12), pages 1234-1241, December.
    • Handle: RePEc:pal:jorsoc:v:54:y:2003:i:12:d:10.1057_palgrave.jors.2601633
    DOI: 10.1057/palgrave.jors.2601633
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/palgrave.jors.2601633
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/palgrave.jors.2601633?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. William S. Jewell, 1984. "A General Framework for Learning Curve Reliability Growth Models," Operations Research, INFORMS, vol. 32(3), pages 547-558, June.
    2. J. Ansell & L. Walls & J. Quigley, 1999. "Achieving growth in reliability," Annals of Operations Research, Springer, vol. 91(0), pages 11-24, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wang, Yukun & Liu, Yiliu & Li, Xiaopeng & Chen, Junyan, 2019. "Multi-phase reliability growth test planning for repairable products sold with a two-dimensional warranty," Reliability Engineering and System Safety, Elsevier, vol. 189(C), pages 315-326.
    2. Chenxu Zhao & Jing Qiu & Guanjun Liu & Kehong Lv, 2016. "Planning, tracking and projecting method for testability growth based on in time correction," Journal of Risk and Reliability, , vol. 230(2), pages 228-236, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Quigley, John & Walls, Lesley, 2011. "Mixing Bayes and empirical Bayes inference to anticipate the realization of engineering concerns about variant system designs," Reliability Engineering and System Safety, Elsevier, vol. 96(8), pages 933-941.
    2. Walls, Lesley & Quigley, John, 1999. "Learning to improve reliability during system development," European Journal of Operational Research, Elsevier, vol. 119(2), pages 495-509, December.
    3. Zitrou, Athena & Bedford, Tim & Walls, Lesley, 2016. "A model for availability growth with application to new generation offshore wind farms," Reliability Engineering and System Safety, Elsevier, vol. 152(C), pages 83-94.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jorsoc:v:54:y:2003:i:12:d:10.1057_palgrave.jors.2601633. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.