.../methodology/approach Based on the application of non-periodic preventive CBM, two recursion models are built for the system: hazard rate and the environmental degradation factor. This paper also established an optimal multi-objective model with a normalization process. The multiple-attribute value theory...

... operating in Latin America. Condition monitoring Environmental degradation Condition maintenance Pintelon et al. (1999) listed the following methodologies for maintenance approach: failure-based maintenance, use-based maintenance, condition-based maintenance, opportunity-based...

... maintains a workforce of 11,400 employees in the region (Caterpillar, 2016). Condition monitoring Environmental degradation Condition maintenance The Latin American market is an important source of revenue for US construction equipment manufacturers and multinational construction companies...

... operational time requirement. The authors determine simultaneously the optimal number of inspections and the threshold level of environmental damage which minimize the total expected cost over the considered finite time horizon. Design/methodology/approach The environmental degradation level is monitored...