“…Additional information reduces the uncertainty affecting decision making, leading to improved decisions (if available). Over the past few years, VoI algorithms and decision analysis have been applied to quantifying the expected values of inspection or monitoring activities for deteriorating structures (Straub 2014, Haladuick and Dann 2018, Thöns 2018, to optimising maintenance decisions (Zou et al 2019, Zitrou, Bedford, and Daneshkhah 2013, Huynh, Barros, and Bérenguer 2012, to scheduling inspections (Memarzadeh andPozzi 2016, Irman, Thöns, andLeira 2017) and to optimising sensor placement (Malings and Pozzi 2016), etc. There is however a lack of a comparative study on VoI, LCC and reliability based maintenance optimization approaches, which would contribute to better understanding of the differences between these approaches.…”