Maintenance Contract Model for Complex Asset/Equipment
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Author(s)
Rahman, A
Griffith University Author(s)
Year published
2014
Metadata
Show full item recordAbstract
Maintenance contracts received significant attentions in the past 15 to 20 years as it has huge potential to reduce the upfront investments in maintenance infrastructure, specialized maintenance facilities, and risks to the owners through expert services provided by the original equipment manufacturers and/or specialist maintenance providers. To make maintenance contracts more effective, there is a need to develop mathematical models and understand future costs that could be built into the contract price. In this paper, a conceptual model is developed for estimating cost of outsourcing maintenance of complex and critical ...
View more >Maintenance contracts received significant attentions in the past 15 to 20 years as it has huge potential to reduce the upfront investments in maintenance infrastructure, specialized maintenance facilities, and risks to the owners through expert services provided by the original equipment manufacturers and/or specialist maintenance providers. To make maintenance contracts more effective, there is a need to develop mathematical models and understand future costs that could be built into the contract price. In this paper, a conceptual model is developed for estimating cost of outsourcing maintenance of complex and critical asset/equipment taking into account both corrective and preventive maintenance as servicing strategies and risks and penalty costs associated with such contract. The developed cost models are analyzed using illustrated numerical examples.
View less >
View more >Maintenance contracts received significant attentions in the past 15 to 20 years as it has huge potential to reduce the upfront investments in maintenance infrastructure, specialized maintenance facilities, and risks to the owners through expert services provided by the original equipment manufacturers and/or specialist maintenance providers. To make maintenance contracts more effective, there is a need to develop mathematical models and understand future costs that could be built into the contract price. In this paper, a conceptual model is developed for estimating cost of outsourcing maintenance of complex and critical asset/equipment taking into account both corrective and preventive maintenance as servicing strategies and risks and penalty costs associated with such contract. The developed cost models are analyzed using illustrated numerical examples.
View less >
Journal Title
International Journal of Reliability, Quality and Safety Engineering
Volume
21
Issue
1
Copyright Statement
Electronic version of an article published in International Journal of Reliability, Quality and Safety Engineering, [Volume, Issue, Year, Pages] [Article DOI] Copyright World Scientific Publishing Company http://www.worldscinet.com/ijqi/
Subject
Statistics
Infrastructure engineering and asset management