Discounted cost model for condition-based maintenance optimization

Abstract:In last years all countries of the European Union experience decrease of water consumption. What is worse, in most cases large European water treatment plants (WTP) have been design and built decades ago, when water consumption was much higher than nowadays. It is a challenging task to adjust WTP's capacity to the current water demand as it is associated with costs and safety issues. Minding that fact, authors decided to propose an new authorial methodology of combined reliability-cost efficiency assessment for water supply system with exceeded redundant capacity, based on new index -unit indicator of reliability-cost efficiency. It included both reliability and costs aspects. It was decided to present the new method on example of the pumping subsystems working for WTP in Poland. The research was based on Activity-Based Life Cycle Costs (AB-LCC) methodology together with two-parametric reliability evaluation. Using real operational and financial data an application of proposed authorial reliability-cost indicator was presented. The reliability-cost efficiency assessment allowed to present how operation of each pumping subsystem influenced global operational costs of WTP. This information is essential for decision-making process for rational management of technical facilities.

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“…According to the literature [3,10,[16][17][18][19]] the values of readiness indicator are calculated to seven decimal places [15].…”

Section: Reliability Calculation Methodsmentioning

confidence: 99%

Assessment of the Reliability-Cost Efficiency of the Pumping Subsystems at Water Treatment Plant

Zimoch

Szymik-Gralewska

2016

Ecological Chemistry and Engineering S

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“…To take into consideration the discount of the maintenance costs, in this paper, we assume the exponential discounting factor with the interest rate equals α for each renewal cycle x [39,40]. Then, the expected maintenance cost over jth renewal cycle is…”

Section: Optimal Pm Period For Each Componentmentioning

confidence: 99%

Maintenance grouping strategy for multi-component systems with dynamic contexts

Van²,

Barros

et al. 2014

Reliability Engineering & System Safety

113

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“…For RUL estimation, managers require historical failure data to train ANN algorithms [7], at least one complete new-to-failed record [14]; to formulate failure probability distributions [15][16][17][18]; or to define transition matrices [19][20][21] among others. Some authors specifically state that their algorithms would perform better if more data were available [22]; in [23] authors developed a locally weighted projection regression (LWPR) that becomes more accurate with datasets of more than 2000 samples.…”

Section: Introductionmentioning

confidence: 99%