- Title
- On reliability evaluation of multistate weighted k -out-of- n system using present value
- Creator
- Khorshidi, Hadi; Gunawan, Indra; Ibrahim, Yousef
- Date
- 2015
- Type
- Text; Journal article
- Identifier
- http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/168939
- Identifier
- vital:13928
- Identifier
-
https://doi.org/10.1080/0013791X.2014.934940
- Identifier
- ISBN:0013-791X
- Abstract
- 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. [ABSTRACT FROM AUTHOR] Copyright of Engineering Economist is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Publisher
- Taylor & Francis Ltd
- Relation
- Engineering Economist Vol. 60, no. 1 (2015), p. 22-39
- Rights
- Copyright Taylor and Francis
- Rights
- This metadata is freely available under a CCO license
- Subject
- System; Engineering; FAULT tolerance (Engineering); 0915 Interdisciplinary Engineering; 1402 Applied Economics; RECURSIVE functions
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