Book Chapter

A mathematical formulation of the problem of optimization of inspection planning in asset management

J Mashford, D Marlow, D Marney, S Burn

Lecture Notes in Mechanical Engineering | Lecture Notes in Mechanical Engineering | Published : 2014

Abstract

The problem of optimal planning for inspection of assets in engineering asset management is formulated in the case that the inspections take place at the beginning of the planning period. It is shown that the problem has the form of a 0-1 knapsack problem. The formulation is applicable to systems consisting of multiple assets. The concept of risk, as usually defined in asset management, arises from the formulation in a natural way and plays an important part in identifying optimal inspection plans. Two special cases are considered. In the first special case, where the inspection budget is large, the optimal inspection plan involves inspecting all assts whose risk is sufficiently large. In th..

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University of Melbourne Researchers