A model of the competitive advantage of Prognostics and Health Management

As enterprises learn of the emerging discipline of Prognostics and Health Management (PHM) they often desire a basic understanding of the key parameters that influence the competitive advantage to be gained over more basic application of the tenants of Reliability Centered Maintenance. This paper introduces a model-based systems engineering model that extends a classic expression used for determining optimal preventive maintenance period to illustrate the potential competitive advantage of PHM.