@article{5d875fac3e56406da71a1b71f8cee04b,
title = "On optimal life extension for degrading systems",
abstract = "We consider life extension models for critical, complex systems with relatively long lifecycles. In contrast to traditional optimal preventive maintenance that usually minimizes the corresponding long run cost rate, a finite number of preventive maintenances are performed to increase the expected lifetime of these systems in an optimal way. The cases of periodic and aperiodic preventive maintenance actions are discussed. The proposed novel approach to life extension allows for simple sensitivity analysis with respect to parameters of the model. The obtained optimal solutions can result in a noticeable increase in the useful life of complex systems. Our findings are illustrated by numerical examples.",
keywords = "Preventive maintenance, expected lifetime, imperfect repair, life extension, perfect repair",
author = "Cha, {Ji Hwan} and Maxim Finkelstein",
note = "Funding Information: The author(s) disclosed receipt of the following financial support for the research, authorship, and/or publication of this article: The work of the first author was supported by the National Research Foundation of Korea (NRF) grant funded by the Korea government (MSIP) (no. 2019R1A2B5B02069500). The work of the first author was also supported by Basic Science Research Program through the National Research Foundation of Korea (NRF) funded by the Ministry of Education (grant no.: 2019R1A6A1A11051177). The work of the second author was supported by the National Research Foundation (SA) (grant no.: 103613). Funding Information: The authors sincerely thank the reviewers for extremely helpful and constructive comments and suggestions, which have considerably improved the presentation of this paper. The author(s) disclosed receipt of the following financial support for the research, authorship, and/or publication of this article: The work of the first author was supported by the National Research Foundation of Korea (NRF) grant funded by the Korea government (MSIP) (no. 2019R1A2B5B02069500). The work of the first author was also supported by Basic Science Research Program through the National Research Foundation of Korea (NRF) funded by the Ministry of Education (grant no.: 2019R1A6A1A11051177). The work of the second author was supported by the National Research Foundation (SA) (grant no.: 103613). Publisher Copyright: {\textcopyright} IMechE 2020.",
year = "2020",
month = jun,
day = "1",
doi = "10.1177/1748006X19897468",
language = "English",
volume = "234",
pages = "487--495",
journal = "Proceedings of the Institution of Mechanical Engineers, Part O: Journal of Risk and Reliability",
issn = "1748-006X",
publisher = "SAGE Publications Ltd",
number = "3",
}