by Dr. Bram de Jonge
16th September 2020
Industrial systems are in general subject to deterioration, ultimately leading to failure, and therefore require maintenance. Due to increasing possibilities to monitor, store, and analyze conditions, condition-based maintenance policies are gaining popularity. The most detailed approach for modeling condition parameters is by using continuous-time continuous-state stochastic processes. However, the resulting analysis can be quite difficult, and therefore simulation is often used. We describe an approach for discretizing continuous-time continuous-state non-decreasing deterioration processes, resulting in discrete-time Markov chains. Furthermore, we show how standard matrix algebra can be used to optimize condition-based maintenance policies, taking into account a required planning time for carrying out maintenance.