Article ID: | iaor201525913 |
Volume: | 8 |
Issue: | 234 |
Start Page Number: | 156 |
End Page Number: | 173 |
Publication Date: | May 2014 |
Journal: | International Journal of Reliability and Safety |
Authors: | Jana Dipak Kumar, Samanta Souvik, Roy Amit |
Keywords: | decision, gradient methods |
In this paper, an Optimal Redundancy Allocation Problem (OPAP), modelled as a non‐linear integer‐programming problem is formulated and solved. Here, costs and resources are random fuzzy in nature. The OPAP is formulated as a decision‐making model optimising Possibilistic Value at Risk (pVaR) by incorporating the concept of Value at Risk (VaR) into possibility and necessity measure theory. The reduced deterministic constrained problem is solved using Generalised Reduced Gradient (GRG) method (LINGO‐14). Some particular models are presented. The models are illustrated with numerical examples and some sensitivity analysis is made on damageability.