1. The Cost-Benefit Assessment of Inspection and Repair Planning for Ship Structures.
- Author
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LI Dian-qing, TANG Wen-yong, and ZHANG Sheng-kun
- Abstract
A cost-benefit model of risk based optimal inspection and repair planning was proposed for the ship structures subjected to corrosion deterioration. The planning problem was formulated as an optimization problem where the total benefit-cost ratio in the expected lifetime was maximized with a constraint on the minimum acceptable reliability index. Based on them, a component was investigated to illustrate the process of the cost-benefit assessment for selecting the optimal inspection and repair strategy. Some sensitivity studies were provided. The results show that the proposed method of risk based cost-benefit analysis can effectively integrate the economy with reliability of the inspection and repair planning. A balance can be achieved between the risk cost and total expected inspection and repair costs by using the proposed method, which is very effective in selecting the optimal inspection and repair strategy. [ABSTRACT FROM AUTHOR]
- Published
- 2005