Cover: Optimal Replacement Policies for a Ballistic Missile

Optimal Replacement Policies for a Ballistic Missile

Published 1962

by Dale Weldeau Jorgenson, John McCall

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This Memorandum applies, to ballistic missile systems, replacement policies for equipment subject to stochastic failures in which the actual state of the system — good or failed — is not known with certainty. Although it applies these policies only to the missile itself, optimal maintenance policies for the system as a whole are conceptually similar. The criterion employed for comparison of alternative maintenance policies is to minimize the total cost per expected piece of equipment good per period of time. Maximization of system reliability is a special case of this criterion which ignores the financial costs of maintenance actions. An equivalent criterion is maximization of the "inputed" in-commission rate.

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