Life Cycle Management -- Distributed Web-based Software Development with Evolutionary Programming and Stochastic Optimization

This article is an extension of the work presented earlier, which compared and analyzed the economics of alternative maintenance plans. The previous approach has been improved by an application of a genetic algorithm. The system is introduced as a distributed web-based software application. The methodology based on combining evolutionary programming with Monte Carlo simulations is described and illustrated by a numerical example involving analysis of the optimal timing of new investments for refurbishment of a large steam generating unit