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Old November 3rd, 2016, 10:20 AM
irishavis irishavis is offline
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Join Date: Aug 2009
Posts: 3
Default Beyond Economical Repair

I have a component that has a high time life limit of 2,000 hours. It's MTTR is less than that (MTTR ~ 600 hrs). When it fails it is repaired at a cost of $5,000. The cost of a new component is $17,000. So it is more cost effective pay for a repair than to replace with a new one. But what about when the component fails close to the high time of 2,000 hrs? At what point will it be better to replace with a new component than pay for a repair when you only get a few hours before it has to be retired anyway. For example: If it fails at 1,900 hrs, is it better to pay $5,000 for a repair but only get an additional 100 hours of life and then need to pay for a new $17,000 new component? Or should you scrap it at the 1,900 point and just buy the new $17,000 new component then? Appreciate any help.
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