Cost Benefit Analysis of Three Single-units Reliability Models Subject to Inspection Repair and Replacement

Pages:356-361
Suman (Research Scholar, Monad University, Hapur, U.P.)

As the demand for the system that perform better and cost less have increase, so there is an economical requirement to minimize the probability of failures whether the failures simply increase cost and inconvenience or threaten the public safety. However, to think of a system without failure is quite impossible. The system might fail in its operation due to various reasons natural, human and mechanical. But even after these errors, a system can be made desirable and reliable to use by providing proper maintenance and repair facilities at certain level of damages. Now a day, reliability is not only a subject of study for scientists and academicians but also a serious concern to the practicising engineers, manufacturer, economists and government leaders as well. Reliability considerations make more effective use of resources and it results in an increase in productivity and decrease in wastage of money, material and manpower. Unreliability usually results in prohibiting high cost of repair maintenance as well as down time and as such reliability is an economic necessity, more so far developing countries.