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|Title:||A risk management-based decision model for a type of dynamic multi-state systems with application on maritime transportation|
Maritime transportation system
Multi-state weighted k-out-of-n system
Universal Generating Function
|Source:||Xiao, H.,Roohi, Sh.F.,Ng, K.M.,Habibullah, M.S. (2010). A risk management-based decision model for a type of dynamic multi-state systems with application on maritime transportation. 5th IEEE International Conference on Management of Innovation and Technology, ICMIT2010 : 1136-1141. ScholarBank@NUS Repository. https://doi.org/10.1109/ICMIT.2010.5492902|
|Abstract:||In this paper, a framework for risk analysis of dynamic multi-state weighted k-out-of-n systems is presented by combining Markov process and Universal Generating Function. The uncertainties in the system demand were considered and optimal management decision is made based on achieved risk and system cost. The use of this approach is illustrated on a case of maritime transportation, which generated promising results on system availability and optimal design. © 2010 IEEE.|
|Source Title:||5th IEEE International Conference on Management of Innovation and Technology, ICMIT2010|
|Appears in Collections:||Staff Publications|
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