Optimal replacement policy and the structure of software for condition‐based maintenance Available to Purchase

States that the concept of condition‐based maintenance (CBM) has been widely accepted in practice since it enables maintenance decisions to be made based on the current state of equipment. Existing CBM methods, however, mainly rely on the inspector’s experience to interpret data on the state of equipment, and this interpretation is not always reliable. Aims to present a preventive maintenance policy based on inspections and a proportional hazards modelling approach with time‐dependent covariates to analyse failure‐time data statistically. Presents the structure of the software, currently under develop‐ ment and supported by the CBM Project Consortium.