The University of Southampton
University of Southampton Institutional Repository

The stability of an optimal maintenance strategy for repairable assets

Archibald, T.W., Ansell, J.I. and Thomas, L.C. (2004) The stability of an optimal maintenance strategy for repairable assets Proceedings of the Institution of Mechanical Engineers. Part E, Journal of Process Mechanical Engineering, 218, (2), pp. 77-82. (doi:10.1243/095440804774134253).

Record type: Article

Abstract

Equipment in the process industry is often subject to decay and requires maintenance, repair and eventual replacement. The challenge of competition and the accompanying regulatory regime requires that actions be integrated and cost effective. Ansell and colleagues in 2001 explored an approach to the assessment of asset life of maintained equipment in the process industry using a semiparametric approach. Using stochastic dynamic programming techniques an approach to find the optimal strategy was also developed by Ansell and colleagues. The approach was illustrated using data from the water industry. A major aspect in the development of optimal strategy for repair and replacement is the cost of these activities. Often the costs can only be ascertained roughly in terms of hours expended on the activity. Detailed costings are rarely available. The discount factor will depend on the interest rate in place. Generally a conservatively high level has been taken but with current low rates one needs to explore the sensitivity of solution to the discount factor. Also there is a need to explore the sensitivity of the solution to changes in the costs of the maintenance activities involved. In this paper we explore the stability of the results to changes in the relative costs. It is seen that two costs seem to be more important than the others; hence the accounting effort appears to be best directed towards these costs. One concern that arises from these results is the impact of the maintenance events. In past modelling the impact of maintenance has been assumed to have a fixed effect. This was derived from study of data. It is felt that this assumption may be too simple and so a differing model is explored to examine this issue.

Full text not available from this repository.

More information

Published date: 2004
Keywords: optimal maintenance strategy, non-homogeneous Poisson process, proportional hazard model, stochastic dynamic programming

Identifiers

Local EPrints ID: 35913
URI: http://eprints.soton.ac.uk/id/eprint/35913
ISSN: 0954-4089
PURE UUID: 5b310e25-e638-4473-8e7c-8c7833cbd0db

Catalogue record

Date deposited: 23 May 2006
Last modified: 17 Jul 2017 15:46

Export record

Altmetrics

Contributors

Author: T.W. Archibald
Author: J.I. Ansell
Author: L.C. Thomas

University divisions

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×