Estimation of degradation model parameters: impact of the information concerning degradation levels and failure times
Presentation, MMR2023, Murcia, Spain
Modeling the time-behavior of critical performance variables or degradation levels plays an important role in the remaining useful life prediction and maintenance scheduling of real industrial equipment. Traditional approaches predominantly use the degradation data for the estimation of degradation model parameters, but lose sight of potential information of failure events. In this work, a comprehensive assessment about the quality of the parameter estimators in terms of the nature of available information is given by leveraging the Wiener process and the gamma process.