AN AGE REDUCTION APPROACH FOR FINITE-HORIZON OPTIMIZATION OF PREVENTIVE MAINTENANCE FOR SINGLE UNITS SUBJECT TO RANDOM FAILURES

We consider a single unit working in a continuous mode of operation ch aracterized by an increasing failure rate. We determine the optimal nu mber of preventive maintenance activities to be scheduled within a tim e horizon of interest, the required extent of the preventive maintenan ce by means of an age reduction of the unit and the corresponding opti mal value of the expected profit. We assume that any breakdown occurin g is minimally repaired, the repair is performed instantaneously, and the repair cost is the same for any repair. On the other hand, the cos t associated with a preventive maintenance activity may vary as well a s its duration. (C) 1998 Elsevier Science Ltd. All rights reserved.