Faculty Advisor

Vernescu, Bogdan M.

Abstract

This project is a study of the optimization-replacement policy for part failure in a series structure. Failure distributions for the parts are used to obtain a cost function for the system over a given lifetime. These methods are formed by considering cost variables pertaining to system failure and the replacement of system parts while utilizing reliability theory and system optimization techniques. Numerical simulations for a multiple-component system are performed for determining the optimal replacement time of the parts.

Publisher

Worcester Polytechnic Institute

Date Accepted

January 2001

Major

Actuarial Mathematics

Project Type

Major Qualifying Project

Accessibility

Restricted-WPI community only

Advisor Department

Mathematical Sciences

Advisor Program

Mathematical Sciences

Share

COinS