Multi-phase preventive maintenance policy for leased equipment

Abstract

This paper proposes a multi-phase preventive maintenance (PM) policy for leased equipment by combining the advantages of both periodic PM and sequential PM. The lease period of the equipment is divided into multiple PM phases. The PM activities within each phase are performed periodically with the convenience of implementation, while the frequency of PM for each phase is different and it gives a gradual increase because of the imperfect effect of PM. A multi-phase PM model is built up based on the age reduction method for imperfect PM with the penalty for equipment failures and overtime of repair involved. The optimal PM intervals for every PM phases are achieved by minimising the cumulative maintenance cost throughout the lease period from the perspective of the lessor. Numerical example shows that the cumulative maintenance cost under the proposed multi-phase PM policy is lower than that under periodic PM policy.