Value of condition monitoring for a single-unit system subject to competing failure modes due to wear and traumatic events
Résumé
This paper develops the mathematical cost models for two maintenance policies (i.e. block replacement and periodic inspection/replacement) for a one-unit deteriorating system whose failures are due to the competing causes of accumulated wear and traumatic/shock" events. The value of the condition monitoring information obtained through the inspections is investigated by comparing on numerical examples the costs of both policies.