Reliability-Based Life-Cycle Cost Model for Engineering Systems

The effect of reliability on life-cycle cost, including
initial and maintenance cost of a system is studied. The failure
probability of a component is used to calculate the average
maintenance cost during the operation cycle of the component. The
standard deviation of the life-cycle cost is also calculated as an error
measure for the average life-cycle cost. As a numerical example, the
model is used to study the average life-cycle cost of an electric motor.

• Reza Lotfalian
• Sudarshan Martins
• Peter Radziszewski

• Initial Cost
• Life-cycle cost
• Maintenance Cost
• Reliability.

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