This project is a study of the optimization-replacement policy for part failure in a series structure. Failure distributions for the parts are used to obtain a cost function for the system over a given lifetime. These methods are formed by considering cost variables pertaining to system failure and the replacement of system parts while utilizing reliability theory and system optimization techniques. Numerical simulations for a multiple-component system are performed for determining the optimal replacement time of the parts.

• This report represents the work of one or more WPI undergraduate students submitted to the faculty as evidence of completion of a degree requirement. WPI routinely publishes these reports on its website without editorial or peer review.

Creator

• Golec, Joseph Adam
• Natrillo, Marc James
• Bailey, Alison Lorraine

Publisher

• Worcester Polytechnic Institute

Identifier

• 01D326M

Advisor

• Vernescu, Bogdan M.

Year

• 2001

Date created

• 2001-01-01

Resource type

• Major Qualifying Project

Major

• Actuarial Mathematics

Rights statement

• In Copyright