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Optimal maintenance policies for constantly monitored systems

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  • Alan P. Wood

Abstract

A multistate system is assumed to be constantly monitored; i.e., the state of the system is always known with certainty. Damage to the system accumulates via a continuous‐time Markov process. A model of the system including restoration costs and state occupation costs is developed. It is shown that under certain conditions the optimal restoration policy for the system is a control limit rule. A control limit rule is a policy which requires restoration of the system whenever the damage exceeds a certain level. Examples are presented to show that there are several situations in which, perhaps surprisingly, control limit rules are not optimal.

Suggested Citation

  • Alan P. Wood, 1988. "Optimal maintenance policies for constantly monitored systems," Naval Research Logistics (NRL), John Wiley & Sons, vol. 35(4), pages 461-471, August.
    • Handle: RePEc:wly:navres:v:35:y:1988:i:4:p:461-471
    DOI: 10.1002/1520-6750(198808)35:43.0.CO;2-K
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    References listed on IDEAS

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    1. Cyrus Derman, 1962. "On Sequential Decisions and Markov Chains," Management Science, INFORMS, vol. 9(1), pages 16-24, October.
    2. Sheldon M. Ross, 1969. "A Markovian Replacement Model with a Generalization to Include Stocking," Management Science, INFORMS, vol. 15(11), pages 702-715, July.
    3. Peter Kolesar, 1966. "Minimum Cost Replacement Under Markovian Deterioration," Management Science, INFORMS, vol. 12(9), pages 694-706, May.
    4. Basil A. Kalymon, 1972. "Machine Replacement with Stochastic Costs," Management Science, INFORMS, vol. 18(5-Part-1), pages 288-298, January.
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    Cited by:

    1. Kut C. So, 1992. "Optimality of control limit policies in replacement models," Naval Research Logistics (NRL), John Wiley & Sons, vol. 39(5), pages 685-697, August.
    2. Hsieh, Chung-Chi & Chiu, Kuo-Chang, 2002. "Optimal maintenance policy in a multistate deteriorating standby system," European Journal of Operational Research, Elsevier, vol. 141(3), pages 689-698, September.
    3. Çekyay, Bora & Özekici, Süleyman, 2012. "Optimal maintenance of systems with Markovian mission and deterioration," European Journal of Operational Research, Elsevier, vol. 219(1), pages 123-133.
    4. C. Teresa Lam & R. H. Yeh, 1994. "Optimal replacement policies for multistate deteriorating systems," Naval Research Logistics (NRL), John Wiley & Sons, vol. 41(3), pages 303-315, April.

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