An optimization model for multi-state weighted kout-of-n system reliability value

A reliability optimization model is proposed in this paper for multi-state weighted k-out-of-n systems. In this model, income generated by components through each functioning period is used as a reliability index. Therefore, time value of money is used in the presented optimization model to estimate both system´s reliability and cost. The system reliability is evaluated by Universal Generating Function (UGF). The model´s objective function is to maximize the net present value (NPV) of the system. Therefore, it would maximize the system reliability and minimize the system cost simultaneously. A numerical example is presented in this paper to illustrate the model by finding the optimal design of the system, and the best time for maintenance plan. Also, a discussion is provided based on the result.