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Constant Interval Replacement Policy
One of a number of different types of asset replacement policies.that falls under the preventive replacement class. Also referred to as "Fixed Interval Replacement Policy"

Preventive replacements occur at fixed Intervals of time, while failure replacements are carried out when necessary.  

The problem is to determine the optimal interval between preventive replacements so that the total expected cost per unit of time of replacing assets is minimized.  

Constant interval replacement shares attributes with the following similar replacement policies:


Candidate assets and Attributes:
  • Bounded Assets, such as fire alarm devices and fire extinguishers
  • Batteries, such as those is an emergency generator and fire alarm.

Evaluation:

A long interval incurs high failure replacement cost and a small interval incurs high preventive replacement cost. 

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Fig. Constant interval replacement is a form of time based replacement policy.

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Fig. Fire alarm devices are good candidates for constant interval replacement.

See also:
Compare with:

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