Cost benefit analysis of series systems with warm standby components

Cost benefit analysis of series systems with warm standby components

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Article ID: iaor2005897
Country: Germany
Volume: 58
Issue: 2
Start Page Number: 247
End Page Number: 258
Publication Date: Jan 2003
Journal: Mathematical Methods of Operations Research (Heidelberg)
Authors: ,
Keywords: cost benefit analysis, markov processes
Abstract:

This paper deals with the cost benefit analysis of series systems with warm standby components. The time-to-repair and the time-to-failure for each of the primary and warm standby components is assumed to have the negative exponential distribution. We develop the explicit expressions for the mean time-to-failure, MTTF, and the steady-state availability, AT(∞) for three configurations and perform a comparative analysis. Under the cost/benefit (C/B) criterion, comparisons are made based on assumed numerical values given to the distribution parameters, and to the cost of the components. The configurations are ranked based on: MTTF, AT(∞), and C/B where B is either MTTF or AT(∞).

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