A process and tool for determining the cost/benefit of prognostic applications

Keller, K.; Simon, Kai A.; Stevens, Edward H.; Jensen, Christian Damsgaard; Smith, Robert; Hooks, D.C.

doi:10.1109/autest.2001.949432

Cited by 14 publications

(7 citation statements)

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“…One such tool, called "PrognostiCalc," was developed in the Phantom Works division during the JSF fighter demonstration program [3]. This tool provided a "quick and rough" estimate of the LCC of three contrasting IVHM methodologies (diagnostics, scheduled maintenance and prognostics) and calculated the cost as $/flight hour for the different IVHM approaches.…”

Section: Genesismentioning

confidence: 99%

“…A disciplined process is required to determine how to best allocate fiduciary and technological resources to best satisfy requirements for system availability at the [3] as an iterative subprocess that is executed within the System/Functional Analysis and Design Synthesis and Integration phases. The Candidate Analysis Process provides an analytical IVHM System Engineering methodology that supports analysts' decisions as to which failure modes to target and what health management approaches are best deployed to maximize system availability and minimize LCC.…”

Section: Ivhm Candidate Analysis Processmentioning

confidence: 99%

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Assessing the impact of health management approaches on system total cost of ownership

Wilmering

Ramesh

2005

2005 IEEE Aerospace Conference

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The Integrated Diagnostics 1,2 and Integrated Vehicle Health Management (IVHM) processes provide frameworks that seek to maximize product availability and simultaneously reduce total system ownership costs. A System Engineering approach is required to balance system requirements and design goals with effective implementation methodologies throughout the system acquisition life cycle.Prediction of failures (or prognostics) is just part of an effective, integrated Health Management solution. Implementation of an efficient methodology will achieve a balance of health management technologies -the right mix of diagnostic, prognostic, and scheduled maintenance approaches based on available resources and Life Cycle Cost considerations. This paper focuses on means for assessing the impact of potential Health Management approaches on Life Cycle Cost (LCC) as implemented within a System Engineering framework. A disciplined approach to selecting appropriate Health Management solutions to satisfy design and operational requirements will be presented, and a software tool for performing trade studies of alternate approaches' impact on Life Cycle Cost will be discussed. This tool, the Ownership Cost Calculator for Aerospace health Management (OCCAM), is designed to assist engineers in evaluating LCC impact of multiple Health Management approaches and design solutions. It takes an innovative and rigorous approach to modeling maintenance and logistics costs associated with aircraft failures, and provides a high fidelity model that permits comparison of the impact of alternative solutions (such as diagnostic, prognostic, or scheduled maintenance approaches) to aircraft Total Cost of Ownership. Cost influencing parameters are based on standard or customizable fleet mission profiles and economic factors, as well as part failure, maintenance and logistic processes. Three versions of the tool have been produced to fit the logistic needs of the application domain: 1 0-7803-8870

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Section: Genesismentioning

confidence: 99%

Section: Ivhm Candidate Analysis Processmentioning

confidence: 99%

Assessing the impact of health management approaches on system total cost of ownership

Wilmering

Ramesh

2005

2005 IEEE Aerospace Conference

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“…Keller lists unscheduled maintenance as one of the seven deadly sins against supportability. 11 The authors raise this point as part of a systems engineering process for determining the cost/benefit of prognostics, i.e., the impact of prognostics, on operational system ownership of, for example, aircraft components. Using this process one can in principle design the likelihood of unscheduled maintenance for a component to be a very small amount, given cost is no object.…”

Section: Unscheduled Maintenance Managementmentioning

confidence: 99%

Attaining Program Affordability Through Integration of Logistical Operations and Health Maintenance

Goforth

Karsai

Orosz

et al. 2005

1st Space Exploration Conference: Continuing the Voyage of Discovery

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“…Many related researches indicated that the application of PHM technology can reduce operational cost, improve availability and enhance safety [1][2][3][4][5][6][7]. However, PHM approach is not always more economic than traditional maintenance strategies (such as unscheduled maintenance, preventive maintenance, etc) when considering the application investment cost of PHM technology (such as the purchasing and installation cost of the PHM system, the operational and support cost of the PHM system, etc) [2].…”

Section: Introductionmentioning

confidence: 99%

“…In recent years, the economic analysis associated with PHM technology has been done in some particular applications [2][3][4][5][6][7][8], including aircraft engine, avionics, electronic equipment, power supply, vehicle, etc. These researches are mostly focused on proposing some general guidelines and processes of the economic analysis [4], analyzing the required investments and the associated benefits of the application of PHM technology [5,6], and establishing some simple cost-benefit models [7,8]. Although these researches are put forward some valuable viewpoints associated with the economic analysis of PHM, most PHM cost-benefit analysis are equipment-specific, and only considering the original investment of PHM application in the process of analysis.…”

Section: Introductionmentioning

confidence: 99%

Cost-benefit analysis of the application of prognostics and health management technology

Jia

Lianghua

Lei

et al. 2013

2013 International Conference on Quality, Reliability, Risk, Maintenance, and Safety Engineering (QR2MSE)

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This paper presents a methodology to perform costbenefit analysis on the application of Prognostics and Health Management (PHM) technology for equipment. The purpose of the methodology is to estimate the economic feasibility of the application of the PHM technology. This paper discusses the calculation of economic metrics for PHM technology, and determines the potential Return on Investment (ROI) and Payback Period of a PHM approach relative to unscheduled maintenance policy using Monte Carlo simulation. The case study of a kind of electronic equipment indicates the proposed methodology of cost-benefit analysis can be used as a useful tool for aiding the decision-making for the application of PHM technology. Keywords-prognostics and health management; cost-benefit analysis; return on investment; Monte Carlo simulation978-1-4799-1014-4/13/$31.00 ©2013 IEEE

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A process and tool for determining the cost/benefit of prognostic applications

Cited by 14 publications

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Assessing the impact of health management approaches on system total cost of ownership

Assessing the impact of health management approaches on system total cost of ownership

Attaining Program Affordability Through Integration of Logistical Operations and Health Maintenance

Cost-benefit analysis of the application of prognostics and health management technology

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