Measurement of resilience and the time value of resilience

Show simple item record Ferris, Timothy L. J. 2020-07-24T11:23:48Z 2020-07-24T11:23:48Z 2020-06-19
dc.identifier.citation Ferris TLJ (2020) Measurement of resilience and the time value of resilience. IEEE Systems Journal, Available online 19th June 2020 en_UK
dc.identifier.issn 1932-8184
dc.description.abstract In prior work, a measure of resilience for use in systems design and management was presented. The measure has the form of a time integral of the system performance level. This form generates the research question: Is the time value of resilience a meaningful concept, like the time value of money in engineering economics. This article presents four scenarios to explore the relationship between time and the value of resilience of a product or system. The scenarios are: perishable commodity packaging, the value of resilience rapidly diminishes after the contents’ expiry; a consumer durable product for use in an evolving environment and interface requirement, where the value of resilience is related to the expiry of platform resilience capability; a national infrastructure asset, where usage increases during the system life; and a factory, where the value of resilience depends on the obsolescence of the product. In the first two and last cases, the value of resilience is high for a finite interval and then low or zero. In the third, the value of resilience increases as the asset ages en_UK
dc.language.iso en en_UK
dc.publisher IEEE en_UK
dc.rights Attribution-NonCommercial 4.0 International *
dc.rights.uri *
dc.subject System lifecycle management en_UK
dc.subject Systems system resilience en_UK
dc.subject system metric en_UK
dc.subject system analysis and design en_UK
dc.subject Measurement en_UK
dc.title Measurement of resilience and the time value of resilience en_UK
dc.type Article en_UK

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