Decision theory in maintenance decision making

Abstract

Advances in decision theory have allowed it to make an effective contribution to the modelling of the decision‐making process. Research work on maintenance decision making using decision theory, however, has received little emphasis to date. For this reason, very little has been done in utilizing two very important decision theory topics, namely utility theory and multi‐attribute utility theory. Investigates possible contributions from decision theory to the maintenance area and develops a framework to solve maintenance decision problems. This framework includes elicitation of both utility functions and prior probability distributions, optimization and sensitivity analysis modules. Details this framework and applies it to a real‐life maintenance problem.

Exploring maintenance policy selection using the Analytic Hierarchy Process; An application for naval ships

“…The use of MCDM methods has been proposed for maintenance decision making, because decision theory has become a useful tool to many professionals and because many maintenance challenges can be modelled as MCDM problems [12,13].…”

“…Although maintenance is something that should be done in practice, several authors argue that practical studies are still under-represented [10,11] In the 1990s, a novel approach to maintenance decision making emerged. Arguing that decision theory has become a useful tool to many professionals including engineers, and many maintenance challenges can be modelled as multiple criteria decision making (MCDM) problems, the use of MCDM methods has been suggested for maintenance decision making [12,13]. Selecting the right maintenance policy is one of these challenges for which MCDM could be applicable.…”

Using of A’wot to Design an Enhanced Planned Maintenance System (E-Pms) on-Board Ship

“…For instance, Almeida and Bohoris introduced a multi-attribute utility theory in maintenance [20]. Furthermore, a hybrid decision-making approach was developed by integrating AHP technique into Goal Programming (GP) for maintenance selection problem [21].…”

Determining the Cost of Predictive Component Replacement in Order to Assist With Maintenance Decision-Making

“…De Almeida and Bohoris [2] reviewed basic decision theory concepts and which steps could be applied in practice in the maintenance environment. They built a maintenance decision model and outlined its applicability in a case study of a power station.…”