TY - JOUR
T1 - On reliability evaluation of multistate weighted k-out-of-n system using present value
AU - Akbarzadeh Khorshidi, Hadi
AU - Gunawan, Indra
AU - Ibrahim, Mahrous Yousef
PY - 2015
Y1 - 2015
N2 - A new reliability evaluation methodology for multistate weighted k-out-of-n systems is presented in this article. The present value of the cash flow generated by the system components is used as a reliability value. We take a financial view of reliability and consider functioning periods and the time value of money in system reliability analysis. Two approaches, the universal generating function (UGF) and recursive algorithm, are applied to evaluate the reliability of the multistate weighted k-out-of-n system. An illustrative example is calculated based on the proposed system reliability evaluation methodology. It is shown that this evaluation method can also be used to find the value of the maintenance policy. Finally, the UGF and recursive algorithm approaches are compared with each other for large system reliability assessment.
AB - A new reliability evaluation methodology for multistate weighted k-out-of-n systems is presented in this article. The present value of the cash flow generated by the system components is used as a reliability value. We take a financial view of reliability and consider functioning periods and the time value of money in system reliability analysis. Two approaches, the universal generating function (UGF) and recursive algorithm, are applied to evaluate the reliability of the multistate weighted k-out-of-n system. An illustrative example is calculated based on the proposed system reliability evaluation methodology. It is shown that this evaluation method can also be used to find the value of the maintenance policy. Finally, the UGF and recursive algorithm approaches are compared with each other for large system reliability assessment.
UR - http://goo.gl/sbqklQ
U2 - 10.1080/0013791X.2014.934940
DO - 10.1080/0013791X.2014.934940
M3 - Article
SN - 0013-791X
VL - 60
SP - 22
EP - 39
JO - Engineering Economist
JF - Engineering Economist
IS - 1
ER -