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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.

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.

Suggested Citation

  • 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, Elsevier, vol. 225(1), pages 189-195.
  • Handle: RePEc:eee:ejores:v:225:y:2013:i:1:p:189-195 DOI: 10.1016/j.ejor.2012.09.034
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    References listed on IDEAS

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    2. 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.
    3. 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.
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    5. 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.
    6. 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.
    7. 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.
    8. 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.
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    Cited by:

    1. repec:eee:reensy:v:168:y:2017:i:c:p:98-104 is not listed on IDEAS
    2. repec:eee:reensy:v:146:y:2016:i:c:p:26-32 is not listed on IDEAS
    3. Jiaqi Zhang & Li He & Hongwei Lu & Jing Li, 2014. "Importance Analysis of Groundwater Remediation Systems," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 28(1), pages 115-129, January.
    4. repec:eee:reensy:v:167:y:2017:i:c:p:49-57 is not listed on IDEAS
    5. Borgonovo, Emanuele & Aliee, Hananeh & Glaß, Michael & Teich, Jürgen, 2016. "A new time-independent reliability importance measure," European Journal of Operational Research, Elsevier, vol. 254(2), pages 427-442.
    6. Lu, H.W. & Pan, H.Y. & He, L. & Zhang, J.Q., 2016. "Importance analysis of off-grid wind power generation systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 999-1007.
    7. repec:eee:reensy:v:132:y:2014:i:c:p:83-89 is not listed on IDEAS

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