Incorporating overall probability of system failure into a preventive maintenance model for a serial system Available to Purchase

This paper develops a model that allows consideration of not only the total maintenance costs but also the overall probability of a system breakdown when determining the time intervals between preventive maintenance activities. Using the model, which assumes that component failures follow a Weibull distribution, managers can determine the required preventive maintenance interval to achieve a desired probability of system failure, and they can calculate the total expected costs of both breakdowns and maintenance actions. The model’s application is illustrated using the impact of four different maintenance policies. The model assures top management that the unavailable system time due to equipment breakdown will be within a specified limit.