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1.1.2 MAINTENANCE BUDGET ALLOCATIONS IN FISCALLY CONSTRAINED ENVIRONMENTS USING RISK CONSTRAINED OPTIMIZED MAINTENANCE PLANNING (RCOMP)
Author(s) -
Douglas Freddie,
Fogle Frank R.,
Mog Robert A.,
Williamson A. Sean,
Riggs Jeffrey L.
Publication year - 1995
Publication title -
incose international symposium
Language(s) - English
Resource type - Journals
ISSN - 2334-5837
DOI - 10.1002/j.2334-5837.1995.tb01848.x
Subject(s) - preventive maintenance , risk analysis (engineering) , computer science , investment (military) , corrective maintenance , predictive maintenance , reliability engineering , budget constraint , process (computing) , forcing (mathematics) , operations management , operations research , business , engineering , economics , mathematics , mathematical analysis , neoclassical economics , politics , political science , law , operating system
Budgetary considerations are forcing organizations to become more cost‐effective entities. Selected operations research techniques have been integrated into the Risk Constrained Optimized Maintenance Planning (RCOMP) tool to provide decision support for this process. The RCOMP tool allows for the exploration of tradeoffs between life cycle cost and total maintenance time and between net investment and total maintenance time for a system. The tool also facilitates the selection of the optimal mix of preventive and corrective maintenance as well as the most cost‐effective maintenance acquisition strategy.