Maintenance Optimization Based on Three-Stage Failure Process under Performance-Based Contracting

Table 1

Overview of application domains, revenue functions, funds limit, and theory based, by the main reviewed contributions.

Ref.	Application domain	Type of revenue function	Consider the funds limit?	Theory based
Kim et al. [24]	Spares inventory	—	—	Principal-agent model
Nowicki et al. [25]	Spares inventory	Linear exponential step	No	Metric
Mirzahosseinian and Piplani [26]	Spares inventory	—	—	Metric; Queueing theory; Markov model
Jin and Tian [27]	Spares inventory and reliability	—	—	Reliability optimization; inventory management
Jin and Wang [28]	Spares inventory and reliability	—	—	Reliability optimization; inventory management
Mirzahosseinian and Piplani [29]	Spares inventory and reliability	—	—	Metric
Kang et al. [30]	Spares inventory and reliability	—	—	Simulation
Jin et al. [31]	Spares inventory and reliability	—	—	Game theoretical; Metric
Patriarca et al. [32]	Spares inventory	—	—	Metric
Mirzahosseinian et al. [33]	Spares inventory and reliability	—	—	Reliability optimization; inventory management
Xiang et al. [34]	Maintenance policy	Linear	No	Stochastic degradation process; CBM
Qiu et al. [35]	Maintenance policy	Linear	No	Virtual age model
Hur et al. [36]	Spares inventory	—	No	Markov chain
Yang et al. [37]	Maintenance policy	Linear	No	Two-stage preventive maintenance model
Patra et al. [38]	Spares inventory and reliability	Nonlinear	No	Principal-agent model; Time-series model
Wang et al. [39]	Maintenance policy	Linear; Exponential	No	Time-series model
Wang et al. [40]	Maintenance policy	Linear	No	Degradation-threshold-shock model
Li et al. [41]	Maintenance policy	Exponential	No	Time-series model
This paper	Maintenance policy	Step; Linear	Yes	Three-stage preventive maintenance model