This paper presents an application for the development of stochastic models to predict the deterioration of infrastructure facilities. The main objective is to demonstrate the capabilities and limitations of two types of models, namely state-based and time-based models, which will guide decision makers in selecting the most appropriate model type according to management needs and data availabil...

This study models a joint pricing, inventory, and preservation decision-making problem for deteriorating items subject to stochastic demand and promotional effort. The generalized price-dependent stochastic demand, time proportional deterioration, and partial backlogging rates are used to model the inventory system. The objective is to find the optimal pricing, replenishment, and preservation t...

The purpose of the paper is to describe and compare deterioration and maintenance models for civil infrastructures. These models can be applied to determine the best maintenance strategy to insure an adequate level of safety at minimal life-cycle cost while taking the uncertainties in the deterioration process into account. Without being complete, a time-dependent deterioration process can be m...

The paper presents a stochastic gamma process model to account for both sampling and temporal variability associated with a deterioration process that increases risk of failure of an aging structure. The proposed method is more versatile than the random-variable deterioration rate model commonly used in the structural reliability literature. The reason being that the random rate model cannot ca...