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Life-cycle cost assessment method for industrial products based on fuzzy fault tree

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  • Ming-hui Yuan
  • Yong-feng Wu

Abstract

In this paper, a fuzzy fault tree-based evaluation method for industrial product life-cycle cost was proposed. The key index of the whole life-cycle cost of industrial products is determined; the influence degree of cost index through the judgement matrix is calculated and the weight of cost index is determined. The least square method is used to extract the least square components of key costs and construct the life-cycle cost evaluation model of industrial products. The evaluation results were sorted by fuzzy number and the failure rate of the fuzzy number after sorting was calculated. The occurrence probability of the optimal value in the evaluation model was determined by fuzzy fault tree top events and the optimal value of the model was solved. Experimental results show that the accuracy of the proposed method is always higher than 90%.

Suggested Citation

  • Ming-hui Yuan & Yong-feng Wu, 2023. "Life-cycle cost assessment method for industrial products based on fuzzy fault tree," International Journal of Manufacturing Technology and Management, Inderscience Enterprises Ltd, vol. 37(2), pages 173-183.
    • Handle: RePEc:ids:ijmtma:v:37:y:2023:i:2:p:173-183
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