Use of Markov chain for deterioration modelling and risk management of infrastructure assets

Sharabah, A, Setunge, S and Zeephongsekul, P 2006, 'Use of Markov chain for deterioration modelling and risk management of infrastructure assets', in Conference Committee (ed.) Proceedings of the International Conference on Information and Automation, Colombo, Sri Lanka, 15-17 December 2006, pp. 384-389.


Document type: Conference Paper
Collection: Conference Papers

Attached Files
Name Description MIMEType Size
n2006000692.pdf Published version application/pdf 2.29MB
Title Use of Markov chain for deterioration modelling and risk management of infrastructure assets
Author(s) Sharabah, A
Setunge, S
Zeephongsekul, P
Year 2006
Conference name International Conference on Information and Automation
Conference location Colombo, Sri Lanka
Conference dates 15-17 December 2006
Proceedings title Proceedings of the International Conference on Information and Automation
Editor(s) Conference Committee
Publisher University of Moratuwa
Place of publication Colombo, Sri Lanka
Start page 384
End page 389
Total pages 6
Abstract Current annual expenditure for management and renewal of Infrastructure assets around the world is 500 billion US dollars. With an aging stock of infrastructure, innovative methods for management of risk of failure and optimizing of maintenance expenditure becomes extremely important. Whilst different infrastructure assets may have different attributes, governing issues are similar in nature. Prediction of deterioration of some infrastructure is complex since they can constitute of a number of discrete elements with a vast range of influencing factors. A major issue currently faced by local government agencies in Australia is the inability to predict maintenance and replacement expenditure with a reasonable accuracy, which creates situations where emergency repairs would use the funds kept for routine maintenance, which then creates a vicious circle of deterioration.
Subjects Civil Engineering not elsewhere classified
Keyword(s) infrastructure management
Markov Process
risk management
DOI - identifier 10.1109/ICINFA.2006.374109
Copyright notice © 2006 IEEE
ISBN 1-4244-0555-6
Versions
Version Filter Type
Altmetric details:
Access Statistics: 252 Abstract Views, 843 File Downloads  -  Detailed Statistics
Created: Wed, 08 Apr 2009, 09:42:32 EST by Catalyst Administrator
© 2014 RMIT Research Repository • Powered by Fez SoftwareContact us