Table of Contents

Introduction

From Maintenance Management to Physical Asset Management
The Challenges of Physical Asset Management
Improving Physical Asset Management
Reliability through the Operator: Total Productive Maintenance
Reliability by Design: Reliability-Centered Maintenance
Optimizing Maintenance and Replacement Decisions
The Quantitative Approach
References

Component Replacement Decisions

Introduction
Optimal Replacement Times for Equipment Whose Operating Cost Increases with Use
Stochastic Preventive Replacement: Some Introductory Comments
Optimal 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 Breakdown
Optimal Preventive Replacement Age of an Item Subject to Breakdown, Taking Account of the Times Required to Effect Failure and Preventive Replacements
Optimal Preventive Replacement Interval or Age of an Item Subject to Breakdown: Minimization of Downtime
Group Replacement: Optimal Interval between Group Replacements of Items that Are Subject to Failure: The Lamp Replacement Problem
Further Replacement Models
Spare Parts Provisioning: Preventive Replacement Spares
Spare Parts Provisioning: Insurance Spares
Solving the Constant-Interval and Age-Based Models Graphically: Use of Glasser’s Graphs
Solving the Constant-Interval and Age-Based Models Using the OREST Software
References
Problems

Inspection Decisions

Introduction
Optimal Inspection Frequency: Maximization of Profit
Optimal Inspection Frequency: Minimization of Downtime
Optimal Inspection Interval to Maximize the Availability of Equipment Used in Emergency Conditions, Such as a Protective Device
Optimizing Condition-Based Maintenance (CBM) Decisions References
Problems

Capital Equipment Replacement Decisions

Introduction
Optimal Replacement Interval for Capital Equipment: Minimization of Total Cost
Optimal Replacement Interval for Capital Equipment: Maximization of Discounted Benefits
Optimal Replacement Interval for Capital Equipment Whose Planned Utilization Pattern Is Variable: Minimization of Total Cost
Optimal Replacement Policy for Capital Equipment Taking into Account Technological Improvement: Finite Planning Horizon
Optimal Replacement Policy for Capital Equipment Taking into Account Technological Improvement: Infinite Planning Horizon
Software for Economic Life Optimization
References
Problems

Maintenance Resource Requirements

Introduction
Queuing Theory Preliminaries
Optimal Number of Workshop Machines to Meet a Fluctuating Workload
Optimal Mix of Two Classes of Similar Equipment (such as Medium/Large Lathes) to Meet a Fluctuating Workload
Rightsizing a Fleet of Equipment: An Application
Optimal Size of a Maintenance Workforce to Meet a Fluctuating Workload, Taking Account of Subcontracting Opportunities
The Lease or Buy Decision
References
Problem
Appendix 1: Statistics Primer
Appendix 2: Weibull Analysis
Appendix 3: Time Value of Money: Discounted Cash Flow Analysis
Appendix 4: List of Applications of Maintenance Decision Optimization Models
Appendix 5: Ordinates of the Standard Normal Distribution
Appendix 6: Areas in the Tail of the Standard Normal Distribution
Appendix 7: Values of Gamma Function
Appendix 8: Median Ranks Table
Appendix 9: Five Percent Ranks Table
Appendix 10: Ninety-Five Percent Ranks Table
Appendix 11: Critical Values for the Kolmogorov–Smirnov Statistic (_d)
Appendix 12: Answers to Problems Index