Availability and cost analysis of a deteriorating system

Abstract

Availability and profit of an industrial system are becoming an increasingly important issue. Where the availability of a system increases, the related profit will also increase. The objective of this paper is to present the effect of minor and major maintenance rates, and perfect repair rate on system availability and profit generated. We analyzed the system by using Kolmogorov’s forward equations method. Results have shown that perfect repair increases system availability and profit generated than minor and major maintenance. Through combine action of minor maintenance, major maintenance and perfect repair action the system availability and profit generated are improved. Models presented in this paper are important to engineers, maintenance managers, and plant management for proper maintenance analysis, decision and for safety of the system as a whole.