Title :
Financial-oriented approach for the allocation of reliability budgets
Author :
Mannhart, Alexandra ; Dittrich, André ; Bertsche, Bernd
Author_Institution :
Dipl.-Math., Daimler AG, Boblingen
Abstract :
This article presents a concept for the allocation of test budgets and the determination of financial optimal reliability target settings for the non-safety case. We highlight out that in contrary to the state of the art where reliability targets are standardized the presented approach gives the opportunity to decide from case to case the reliability target and the test budget allocation to work out the optimal overall return for the company with an optimal risk.
Keywords :
budgeting; reliability; risk analysis; financial optimal reliability; financial-oriented approach; nonsafety case; optimal risk; reliability budget allocation; Cost function; Decision theory; Finance; Frequency; Investments; Life testing; Machine components; Reliability theory; Time measurement; Warranties; Decision Theory; Portfolio Selection; Reliability Targets; Reliability Testing;
Conference_Titel :
Reliability and Maintainability Symposium, 2009. RAMS 2009. Annual
Conference_Location :
Fort Worth, TX
Print_ISBN :
978-1-4244-2508-2
Electronic_ISBN :
0149-144X
DOI :
10.1109/RAMS.2009.4914660