On the construction of mean residual life for maintenance decision-making
Proc. 8th IFAC Symposium on Fault Detection, Supervision and Safety of Technical Processes
This paper provides a methodology to assess the efficiency of mean residual life (MRL) in condition-based maintenance decision-making for a system subjected to the competing and dependent risks of degradation and shock. Based on this system, the cost models of two quite simple policies implementing MRL-based or degradation-based preventive replacement are developed and compared with each other. Analyzing the equivalence and the performance of both policies allow us to give some conclusions on the interest of the MRL indicator.