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Optimized asset maintenance and replacement schedule

  • US 9,959,514 B2
  • Filed: 11/24/2014
  • Issued: 05/01/2018
  • Est. Priority Date: 11/24/2014
  • Status: Active Grant
First Claim
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1. A system for generating an optimal preventive maintenance/replacement schedule for a set of assets comprising:

  • a memory storage device for storing data;

    a programmed processor device coupled to the memory storage device and configured to;

    receive data regarding an asset, said data including a failure rate function capturing a condition of said asset up to a point in time, a cost of preventative maintenance (PM) of said asset, a cost of an asset failure, and a cost of replacing an asset;

    receive a further input specifying a time horizon;

    determine whether there is a need to replace said asset, and when a replacement of said asset is needed;

    compute a mean cost-rate optimization problem formulated as an objective function of a total cost of the asset over said specified time horizon, said total cost being a function of a cost of preventative maintenance (PM) of said asset for K−

    1 PMs, and an expected cost of repairs for an asset failure computed as a function of said failure rate function, and the cost of replacing an asset;

    compute an optimal number of preventative maintenance actions K and time intervals tk for each asset independently by minimizing said first objective function with respect to an age of the electrical asset yk, where k represents a kth PM, wherein said schedule is formed without considering a labor and budget resource constraint;

    store data representing said optimal number of preventative maintenance time intervals for each asset in the memory storage device; and

    generate a final maintenance schedule of said optimal number of time intervals from said stored data.

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