A survey of maintenance policies of deteriorating systems
- H. Wang
- Eur.J.Oper.Res., vol. 139, no.3, pp. 469-489, Jun…
This paper explains the cost benefit analysis of Intelligent Condition Based Maintenance (CBM) of rotating machinery. A mathematical model for the cost benefit analysis is developed for assessing the cost effectiveness of CBM for rotating machinery. The model is applied for various maintenance strategies of the air compressors as a special case, when they are in corrective maintenance, time based maintenance and condition based maintenance. The revenue generated for all the maintenance strategies of the air compressors are discussed. The case study of cost benefit analysis predicts the increased profit gain when the air compressor is under CBM.