Optimising the Preventive Maintenance Interval Using a Semi-Markov Process, Z-Transform, and Finite Planning Horizon

Abstract

This chapter uses a semi-Markov process and the z transform to find the optimal preventive maintenance interval when dealing with maintenance decision making for a finite time planning horizon. The result is a method that can be easily implemented to assets for which a Weibull reliability analysis exists. The suggested preventive interval formulation is simple and practical. The requirements to apply this simple formula are related to the existence of asset´s reliability data as well as cost/rewards that the assets have when remaining or transitioning to a given state. The application of this method can be very straightforward, and the tool can become a good decision support tool allowing “what if” analysis for different time horizon and maintenance policies.