A Theoretical Framework on Reliability Optimization for Improving System Operational Availability

Abstract

Purpose: We seek to identify an optimization model from among reliability optimization models to overcome the trade-off between a high level of availability and high cost.BRMethods: Using sensitivity analysis, we identify the main factors affecting operational availability and investigated the cost of each factor for achieving the target operational availability. We then minimized the total cost incurred for achieving the target operational availability by using an optimization model. Here, we also present an alternative optimization model in which the operational availability is maximized subject to a budget limitation.BRResults: We show that an optimal investment can be achieved by using special cost functions such as linear and convex functions. It is challenging to attain optimality with more general nonlinear cost functions.BRConclusion: We not only present an efficient approach to assessing the cost-efficiency for a high level of readiness of a system, but also provide insights into the manner of setting an appropriate target availability and identifying the factors to invest in for achieving the target availability.