Measurement of resilience and the time value of resilience

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dc.contributor.authorFerris, Timothy L. J.
dc.date.accessioned2020-07-24T11:23:48Z
dc.date.available2020-07-24T11:23:48Z
dc.date.issued2020-06-19
dc.description.abstractIn 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 agesen_UK
dc.identifier.citationFerris TLJ (2021) Measurement of resilience and the time value of resilience. IEEE Systems Journal, Volume 15, Issue 2, June 2021, pp. 1578-1585en_UK
dc.identifier.issn1932-8184
dc.identifier.urihttps://doi.org/10.1109/JSYST.2020.3000361
dc.identifier.urihttp://dspace.lib.cranfield.ac.uk/handle/1826/15590
dc.language.isoenen_UK
dc.publisherIEEEen_UK
dc.rightsAttribution-NonCommercial 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/*
dc.subjectSystem lifecycle managementen_UK
dc.subjectSystems system resilienceen_UK
dc.subjectsystem metricen_UK
dc.subjectsystem analysis and designen_UK
dc.subjectMeasurementen_UK
dc.titleMeasurement of resilience and the time value of resilienceen_UK
dc.typeArticleen_UK

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