Risk-Based Maintenance Optimization

RBM has been one of the most popular tools applied recently regarding the asset management of logistics, transport, or infrastructure systems that are mostly driven simultaneously by demands of service continuity, safety, and economic viability. Although recent literature has produced somewhat advanced optimization approaches, with some of those not yet applied successfully because of gaps either in the description of service or economic or downtime information, this literature review discusses most of the peer-reviewed literature available within the publication range of 2020-2025 thoroughly with respect to optimization solution of RBM incorporating concepts of RAMS, life cycle costs, and asset criticalities. In this case, the prime areas of interest with emphasis on risk information into service information, economic information, or downtime information, along with man-hour capacity or downtime information receive detailed attention and emphasis. A detailed RAMS C³ strategy is also presented to scrutinize the operational readiness of those studies, with supreme emphasis given to implementability itself. It has been gathered in this review that there might be certain limitations of those studies concerning either the description of availability or maintainability information, the usage of vague definitions of criticalities, or a lack of validation tests with real-world schedules. Consequently, based on those observations, either implementable economic information or implementable downtime information, risk information, or a checklist reporting format has been presented below.