Optimal component replacement decisions using vibration monitoring and the proportional-hazards model

• Published in: The Journal of the Operational Research Society Vol. 53; no. 2; pp. 193 - 202
• Main Authors: Vlok, P J, Coetzee, J L, Banjevic, D, Jardine, A K S, Makis, V
• Format: Journal Article
• Language: English
• Published: London Taylor & Francis 01.02.2002; Palgrave Macmillan Press; Palgrave Macmillan UK; Palgrave; Taylor & Francis Ltd
• Subjects: Applied sciences; Average cost; Business and Management; case study; Case-oriented Paper; Case-Oriented Papers; circulating pump; Computer software; Cost efficiency; Exact sciences and technology; Management; Modeling; Operational research and scientific management; Operational research. Management science; Operations research; Operations Research/Decision Theory; Optimal policy; optimal replacement policy; Optimization; Petrochemicals industry; proportional hazards model; Pumps; Reliability theory. Replacement problems; Replacement value; Risk theory. Actuarial science; Studies; Transition probabilities; Vibration; vibration monitoring; circulating pump; proportional hazards model; optimal replacement policy; case study; vibration monitoring; Case study; Optimal decision; Petrochemical industry; Vibration; Replacement problem; Optimal policy; Circulating pump; Maintenance engineering; Weibull distribution; Monitoring; Optimization; Hazard

This paper describes a case study in which the Weibull proportional-hazards model is used to determine the optimal replacement policy for a critical item which is subject to vibration monitoring. Such an approach has been used to date in the context of monitoring through oil debris analysis, and thi...