A cost-based importance measure for system components: An extension of the Birnbaum importance
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.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 225 (2013)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.elsevier.com/locate/eor|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:eee:ejores:v:225:y:2013:i:1:p:189-195. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.