Cost–benefit modelling for reliability growth

  title={Cost–benefit modelling for reliability growth},
  author={John Quigley and Lesley Walls},
  journal={Journal of the Operational Research Society},
  • J. Quigley, L. Walls
  • Published 1 December 2003
  • Economics
  • Journal of the Operational Research Society
Decisions during the reliability growth development process of engineering equipment involve trade-offs between cost and risk. However slight, there exists a chance an item of equipment will not function as planned during its specified life. Consequently the producer can incur a financial penalty. To date, reliability growth research has focussed on the development of models to estimate the rate of failure from test data. Such models are used to support decisions about the effectiveness of… 
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