Influence of the Relative Weight of the Cost Variability on the Performance and Robustness of Condition-Based Maintenance Strategies and Time-Based Maintenance Strategies

Abstract

The continuous economic growth and resulting infrastructural and technological development have drawn attention to asset management. The tied up high capital in equipment and resources has driven organizations to seek for more effective maintenance strategies to asset management problems. The maintenance process involves a combination of preventive and corrective actions that aim to retain or restore a system to its operating condition. It is a complex and critical process, particularly for manufacturing firms. The cost of maintenance can account for a significant portion, ranging from 15 to 70% of total production costs [1]. The objective of optimal maintenance strategies is to ensure optimal system reliability, availability, and safety performance while minimizing maintenance costs [2]. In the literature, two main types of maintenance techniques are discussed: time-based maintenance (TBM) and condition-based maintenance (CBM) [3,4]. TBM relies on the age of the system and statistical information about its lifetime to make preventive maintenance decisions [5,6]. However, this approach does not take into account the realistic operating conditions of the system over time. On the other hand, CBM is an advanced maintenance technique that considers diagnostic and prognostic information about the system's condition over time. It has gained popularity in the literature and is now recognized as an interesting approach for maintenance optimization [7,8,9,10]. Extensive research has been conducted on both TBM and CBM strategies, resulting in a large number of strategies that have been investigated, developed, and successfully applied to monocomponent systems. For example, some strategies utilize the current equipment condition, such as the deterioration level [11, 12, 13], while others consider the future equipment health state for making maintenance decisions [14,15,16]. These approaches have proven effective in optimizing maintenance processes, so in this article we will evaluate the influence of the relative weight of the cost variability on the Performance and Robustness of Condition-Based Maintenance Strategies CBM and Time-Based Maintenance Strategies TBM.