Measurement of resilience and the time value of resilience

Date published

2020-06-19

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Volume Title

Publisher

IEEE

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Type

Article

ISSN

1932-8184

Format

Citation

Ferris TLJ (2021) Measurement of resilience and the time value of resilience. IEEE Systems Journal, Volume 15, Issue 2, June 2021, pp. 1578-1585

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

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Software Description

Software Language

Github

Keywords

System lifecycle management, Systems system resilience, system metric, system analysis and design, Measurement

DOI

Rights

Attribution-NonCommercial 4.0 International

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