Skip to main content

Advertisement

SpringerLink
Log in

System reliability optimization using time value of money

  • ORIGINAL ARTICLE
  • Published:
The International Journal of Advanced Manufacturing Technology Aims and scope Submit manuscript

Abstract

In the recent years, many significant methods for evaluation of structural system reliability and its improvement have been evolved. First step for improving the longevity of system is to estimate the system reliability. After that, improving actions can be employed in an optimized way. This paper tries to evaluate the reliability of system during function period. Also, the optimization model has been developed to make a best decision on component's number and improving actions' level. To achieve this goal, reliability value and engineering economic tools have been useful to model a multiobjective problem. At last, an illustrative example is presented, and genetic algorithm, as the most applicable meta-heuristic method in the field of reliability optimization, has been used.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Similar content being viewed by others

References

  1. Lundteigen MA, Rausand M (2010) Reliability of safety instrumented systems: where to direct future research? Process Saf Progress 29(4):372–379

    Article  Google Scholar 

  2. Kuo W, Zuo MJ (2003) Optimal reliability modeling: principles and applications. Wiley, New York

    Google Scholar 

  3. Wu JS, Chen RJ (1994) An algorithm for computing the reliability of a weighted-k-out-of-n system. IEEE Trans Reliab 43:327–328

    Article  Google Scholar 

  4. Srivaree-Ratana C, Konak A, Smith AE (2002) Estimation of all terminal network reliability using an artificial neural network. Com Oper Res 29(7):849–868

    Article  MathSciNet  MATH  Google Scholar 

  5. Abdel-Aziz M (1990) Multicriteria optimization applied to multistate repairable components. Published PhD thesis, University of Oklahoma

  6. Chen H (2000) Generating system reliability optimization. Published PhD thesis, University of Saskatchewan

  7. Tavakkoli-Moghaddam R, Safari J, Sassani F (2008) Reliability optimization of series-parallel systems with a choice of redundancy strategies using a genetic algorithm. Reliab Eng Syst Saf 93:550–556

    Article  Google Scholar 

  8. Vaughen BK, Nagel JF, Allen MJ (2011) Integrate plant reliability efforts with mechanical integrity. Process Saf Progress 30(4):323–327

    Article  Google Scholar 

  9. Chern MS (1992) On the computational complexity of reliability redundancy allocation in a series system. Oper Res Lett 11:309–315

    Article  MathSciNet  MATH  Google Scholar 

  10. Ramirez-Marquez JE, Coit DW (2004) A heuristic for solving the redundancy allocation problem for multi-state series-parallel systems. Reliab Eng SystSafety 83(3):341–349

    Article  Google Scholar 

  11. Tian Z, Zuo MJ (2006) Redundancy allocation for multi-state systems using physical programming and genetic algorithm. Reliab Eng SystSafety 91:1049–1056

    Article  Google Scholar 

  12. Bendjeghaba O, Ohahdi D, Zablah A (2007) Hybrid approach for redundancy optimization multi-state power system. Leonardo J Sci 10:115–130

    Google Scholar 

  13. Tian Z, Zuo MJ, Huang H (2008) Reliability-redundancy allocation for multi-state series-parallel systems. IEEE Trans Reliab 57(2):303–310

    Article  Google Scholar 

  14. Coelho LS (2009) An efficient particle swarm approach for mixed-integer programming in reliability-redundancy optimization application. Reliab Eng Syst Saf 94:830–837

    Article  Google Scholar 

  15. Tian Z, Levitin G, Zuo MJ (2009) A joint reliability-redundancy optimization approach for multi-state series-parallel systems. Reliab Eng Syst Saf 94:1568–1576

    Article  Google Scholar 

  16. Beji N, Chabchoub H (2009) The goal programming model to solve the series-parallel systems reliability allocation. Int J Data Anal Inf Syst 1(2):79–87

    Google Scholar 

  17. Jin T, Liao H, Kilari M (2010) Reliability growth modeling for in-service electronic systems considering latent failure modes. Microelectron Reliab 50:324–331

    Article  Google Scholar 

  18. Kusiak A, Lee GH (1997) Design of parts and manufacturing systems for reliability and maintainability. Int J Adv Manuf Eng 13:67–76

    Article  Google Scholar 

  19. Li Z, Liao H, Coit DW (2009) A two-stage approach for multi-objective decision making with applications to system reliability optimization. Reliab Eng Syst Saf 94:1585–1592

    Article  Google Scholar 

  20. Ushakov I (1986) A universal generating function. Sov J Comput Syst Sci 24:37–49

    Google Scholar 

  21. Lisnianski A, Levitin G, Ben-Haim H, Elmkis D (1996) Power system structure optimization subject to reliability constraints. Electron Power Syst Res 39(2):145–152

    Article  Google Scholar 

  22. Levitin G (2005) The universal generating function in reliability analysis and optimization. Springer, London

    Google Scholar 

  23. Saleh JH, Marais K (2006) Reliability: how much is it worth? Beyond its estimation or prediction, the (net) present value of reliability. Reliab Eng Syst Saf 91:665–673

    Article  Google Scholar 

  24. Marais KB, Saleh JH (2009) Beyond its cost, the value of maintenance: an analytical framework for capturing its net present value. Reliab Eng Syst Saf 94:644–657

    Article  Google Scholar 

  25. Saidi-Mehrabad M, Noorossana R, Shafiee M (2010) Modeling and analysis of effective ways for improving the reliability of second-hand products sold with warranty. Int J Adv Manuf Technol 46:253–265

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Department of Industrial & System Engineering, Isfahan University of Technology, Isfahan, 84156-83111, Iran

    Ali Zeinal Hamadani & Hadi Akbarzade Khorshidi

Authors
  1. Ali Zeinal Hamadani
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Hadi Akbarzade Khorshidi
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Hadi Akbarzade Khorshidi.

Rights and permissions

Reprints and permissions

About this article

Cite this article

Hamadani, A.Z., Khorshidi, H.A. System reliability optimization using time value of money. Int J Adv Manuf Technol 66, 97–106 (2013). https://doi.org/10.1007/s00170-012-4309-7

Download citation

  • Received:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s00170-012-4309-7

Keywords

Search

Navigation