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On Reliability Evaluation of Multistate Weighted -out-of- System Using Present Value

Author

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  • Hadi Akbarzade Khorshidi
  • Indra Gunawan
  • M. Yousef Ibrahim

Abstract

A new reliability evaluation methodology for multistate weighted k-out-of-n systems is presented in this article. The present value of the cash flow generated by the system components is used as a reliability value. We take a financial view of reliability and consider functioning periods and the time value of money in system reliability analysis. Two approaches, the universal generating function (UGF) and recursive algorithm, are applied to evaluate the reliability of the multistate weighted k-out-of-n system. An illustrative example is calculated based on the proposed system reliability evaluation methodology. It is shown that this evaluation method can also be used to find the value of the maintenance policy. Finally, the UGF and recursive algorithm approaches are compared with each other for large system reliability assessment.

Suggested Citation

  • Hadi Akbarzade Khorshidi & Indra Gunawan & M. Yousef Ibrahim, 2015. "On Reliability Evaluation of Multistate Weighted -out-of- System Using Present Value," The Engineering Economist, Taylor & Francis Journals, vol. 60(1), pages 22-39, January.
    • Handle: RePEc:taf:uteexx:v:60:y:2015:i:1:p:22-39
    DOI: 10.1080/0013791X.2014.934940
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    Cited by:

    1. Liu, Qiang & Zhang, Hailin, 2022. "Reliability evaluation of weighted voting system based on D–S evidence theory," Reliability Engineering and System Safety, Elsevier, vol. 217(C).
    2. Xiaogang Song & Zhengjun Zhai & Yangming Guo & Peican Zhu & Jie Han, 2017. "Approximate Analysis of Multi-State Weighted k -Out-of- n Systems Applied to Transmission Lines," Energies, MDPI, vol. 10(11), pages 1-16, October.
    3. Jinlei Qin & Zheng Li, 2019. "Reliability and Sensitivity Analysis Method for a Multistate System with Common Cause Failure," Complexity, Hindawi, vol. 2019, pages 1-8, May.

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