Optimal maintenance scheduling for local public purpose buildings

Optimal maintenance scheduling for local public purpose buildings Purpose– The purpose of this paper is to set up and analyze a formal model for maintenance scheduling for local government purpose buildings. Design/methodology/approach– The authors formulate the maintenance scheduling decision as a dynamic optimization problem, subject to an accelerating decay. This approach offers a formal, yet intuitive, weighting of an important trade-off when deciding a maintenance schedule. Findings– The optimal maintenance schedule reflects a trade-off between the interest rate and the rate at which the decay accelerates. The prior reflects the alternative cost, since the money spent on maintenance could be saved and earn interests, while the latter reflects the cost of postponing maintenance. Importantly, it turns out that it is sub-optimal to have a cyclical maintenance schedule where the building is allowed to decay and then be intensively maintained before decaying again. Rather, local governments should focus the maintenance either early in the building’s life-span and eventually let it decay toward replacement/abandonment or first let it decay to a target level and then keep it there until replacement/abandonment. Which of the two is optimal depends on the trade-off between the alternative cost and the cost of postponing maintenance. Originality/value– The paper provides a first formal inquiry into important trade-offs that are important for maintenance scheduling of local public purpose buildings. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Property Management Emerald Publishing

Optimal maintenance scheduling for local public purpose buildings

Property Management, Volume 34 (2): 16 – Apr 18, 2016

Loading next page...
 
/lp/emerald-publishing/optimal-maintenance-scheduling-for-local-public-purpose-buildings-QfG8lFqWXd
Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0263-7472
DOI
10.1108/PM-01-2015-0002
Publisher site
See Article on Publisher Site

Abstract

Purpose– The purpose of this paper is to set up and analyze a formal model for maintenance scheduling for local government purpose buildings. Design/methodology/approach– The authors formulate the maintenance scheduling decision as a dynamic optimization problem, subject to an accelerating decay. This approach offers a formal, yet intuitive, weighting of an important trade-off when deciding a maintenance schedule. Findings– The optimal maintenance schedule reflects a trade-off between the interest rate and the rate at which the decay accelerates. The prior reflects the alternative cost, since the money spent on maintenance could be saved and earn interests, while the latter reflects the cost of postponing maintenance. Importantly, it turns out that it is sub-optimal to have a cyclical maintenance schedule where the building is allowed to decay and then be intensively maintained before decaying again. Rather, local governments should focus the maintenance either early in the building’s life-span and eventually let it decay toward replacement/abandonment or first let it decay to a target level and then keep it there until replacement/abandonment. Which of the two is optimal depends on the trade-off between the alternative cost and the cost of postponing maintenance. Originality/value– The paper provides a first formal inquiry into important trade-offs that are important for maintenance scheduling of local public purpose buildings.

Journal

Property ManagementEmerald Publishing

Published: Apr 18, 2016

There are no references for this article.

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off