Generating companies use the maintenance cost function as the sole or main objective for creating the maintenance schedule of power generators. Usually only maintenance activities related costs are considered to derive the cost function. However, in deregulated markets, maintenance related costs alone do not represent the full costs of generators. This paper models various cost components that ...

For leased equipment the lessor incurs penalty costs for failures occurring over the lease period and for not rectifying such failures within a specified time limit. Through preventive maintenance actions the penalty costs can be reduced but this is achieved at the expense of increased maintenance costs. The paper looks at a periodic preventive maintenance policy which achieves a tradeoff betwe...

In today's competitive market, all manufacturers attempt to improve their maintenance policy in order to decrease the cost of failure and increase the quality of products, but most of these attempts do not consider the role of humans involved in a manufacturing system. Human resources are the main factor in manufacturing that has an undeniable effect on products quality, machines reliability, s...