Maintenance, Replacement, and Reliability : Theory and Applications, Second Edition

Front Cover -- Contents -- Preface for the First Edition -- Preface for the Second Edition -- Acknowledgments for the First Edition -- Acknowledgments for the Second Edition -- Authors -- Abstract -- Chapter 1: Introduction -- Chapter 2: Component Replacement Decisions -- Chapter 3: Inspection Decisions -- Chapter 4: Capital Equipment Replacement Decisions -- Chapter 5: Maintenance Resource Requirements -- Appendix 1: Statistics Primer -- Appendix 2: Weibull Analysis -- Appendix 3: Maximum Likelihood Estimator -- Appendix 4: Markov Chains -- Appendix 5: Knowledge Elicitation -- Appendix 6: Time Value of Money-Discounted Cash Flow Analysis -- Appendix 7: List of Applications of Maintenance Decision Optimization Models -- Appendix 8: Ordinates of the Standard Normal Distribution -- Appendix 9: Areas in the Tail of the Standard Normal Distribution -- Appendix 10: Values of Gamma Function -- Appendix 11: Median Ranks Table -- Appendix 12: Five Percent Ranks Table -- Appendix 13: Ninety-Five Percent Ranks Table -- Appendix 14: Critical Values for the Kolmogorov-Smirnov Statistic (d ) -- Appendix 15: Answers to Problems -- Back Cover.;IntroductionFrom Maintenance Management to Physical Asset ManagementChallenges of PAMImproving PAMPAS 55-A Framework for Optimized Management of Physical AssetsReliability through the Operator: TPM Reliability by Design: RCMOptimizing Maintenance and Replacement DecisionsThe Quantitative ApproachData Requirements for ModelingReferencesComponent Replacement DecisionsIntroductionOptimal Replacement Times for Equipment Whose Operating Cost Increases with UseStochastic Preventive Replacement: Some Introductory CommentsOptimal Preventive Replacement Interval of Items Subject to Breakdown (Also Known as the Group or Block Policy) Optimal Preventive Replacement Age of an Item Subject to BreakdownOptimal Preventive Replacement Age of an Item Subject to Breakdown, Taking Account of the Times Required to Carry Out Failure and Preventive ReplacementsOptimal Preventive Replacement Interval or Age of an Item Subject to Breakdown: Minimization of DowntimeGroup Replacement: Optimal Interval between Group Replacements of Items Subject to Failure: the Lamp Replacement ProblemFurther Replacement ModelsCase Study on Project Prioritization, Trend Tests, Weibull Analysis, and Optimizing Component Replacement IntervalsSpare Parts Provisioning: Preventive Replacement SparesSpare Parts Provisioning: Insurance SparesSolving the Constant-Interval and Age-Based Models Graphically: Use of Glasser's GraphsSolving the Constant-Interval and Age-Based Models Using OREST SoftwareReferencesInspection DecisionsIntroductionOptimal Inspection Frequency: Maximization of ProfitOptimal Inspection Frequency: Minimization of DowntimeOptimal Inspection Interval to Maximize the Availability of Equipment Used in Emergency Conditions, Such as a Protective DeviceOptimizing CBM DecisionsReferencesCapital Equipment Replacement DecisionsIntroductionOptimal Replacement Interval for Capital.;Equipment: Minimization of Total CostOptimal Replacement Interval for Capital Equipment: Maximization of Discounted BenefitsOptimal Replacement Interval for Capital Equipment Whose Planned Utilization Pattern Is Variable: Minimization of Total CostOptimal Replacement Policy for Capital Equipment Taking into Account Technological Improvement: Finite Planning HorizonOptimal Replacement Policy for Capital Equipment Taking into Account Technological Improvement: Infinite Planning HorizonSoftware for Economic Life OptimizationReferencesMaintenance Resource RequirementsIntroductionQueuing Theory PreliminariesOptimal Number of Workshop Machines to Meet a Fluctuating WorkloadOptimal Mix of Two Classes of Similar Equipment (such as Medium/Large Lathes) to Meet a Fluctuating WorkloadRightsizing a Fleet of Equipment: An ApplicationOptimal Size of a Maintenance Workforce to Meet a Fluctuating Workload, Taking Account of Subcontracting OpportunitiesThe Lease or Buy DecisionReferencesAppendices: Statistics PrimerWeibull AnalysisMaximum Likelihood EstimatorMarkov ChainsKnowledge ElicitationTime Value of Money: Discounted Cash Flow AnalysisList of Applications of Maintenance Decision Optimization ModelsOrdinates of the Standard Normal DistributionAreas in the Tail of the Standard Normal DistributionValues of Gamma FunctionMedian Ranks TableFive Percent Ranks TableNinety-Five Percent Ranks TableCritical Values for the Kolmogorov-Smirnov Statistic (d ) Answers to ProblemsIndex. Front Cover......Page 1 Contents......Page 9 Preface for the First Edition......Page 17 Preface for the Second Edition......Page 19 Acknowledgments for the First Edition......Page 21 Acknowledgments for the Second Edition......Page 23 Authors......Page 25 Abstract......Page 27 Chapter 1: Introduction......Page 29 Chapter 2: Component Replacement Decisions......Page 55 Chapter 3: Inspection Decisions......Page 129 Chapter 4: Capital Equipment Replacement Decisions......Page 163 Chapter 5: Maintenance Resource Requirements......Page 207 Appendix 1: Statistics Primer......Page 247 Appendix 2: Weibull Analysis......Page 261 Appendix 3: Maximum Likelihood Estimator......Page 303 Appendix 4: Markov Chains......Page 307 Appendix 5: Knowledge Elicitation......Page 311 Appendix 6: Time Value of Money—Discounted Cash Flow Analysis......Page 323 Appendix 7: List of Applications of Maintenance Decision Optimization Models......Page 333 Appendix 8: Ordinates of the Standard Normal Distribution......Page 337 Appendix 9: Areas in the Tail of the Standard Normal Distribution......Page 339 Appendix 10: Values of Gamma Function......Page 343 Appendix 11: Median Ranks Table......Page 345 Appendix 12: Five Percent Ranks Table......Page 347 Appendix 13: Ninety-Five Percent Ranks Table......Page 349 Appendix 14: Critical Values for the Kolmogorov–Smirnov Statistic (dα)......Page 351 Appendix 15: Answers to Problems......Page 353 Back Cover......Page 359 "Completely revised and updated, this second edition of a bestseller provides the tools needed for making data-driven physical asset management decisions. The book is soldly based on the results of real-world research in physical asset management, including applications of the models presented in the text. Software that implements many of the procedures and models featured in this textbook has been developed and can be downloaded, along with PowerPoint Slides and a test bank with over 100 examination questions, from the CRC website"-- Provided by publisher A completely revised and updated edition of a bestseller, Maintenance, Replacement, and Reliability: Theory and Applications, Second Edition supplies the tools needed for making data-driven physical asset management decisions. The well-received first edition quickly became a mainstay for professors, students, and professionals, with its clear prese