Value of information-based decision analysis of the optimal next inspection type for deteriorating structural systems

Deteriorating infrastructure systems require inspections and maintenance to ensure safe operation. System operators are often required to decide the optimal type of inspection to perform, where some inspections are of higher accuracy, and correspondingly higher cost. Life cycle analysis is typically used to determine the optimal inspection type. While life cycle analysis is effective at determining the optimal inspection type, it is also inefficient, requiring analysis of the entire decision sequence throughout the system life cycle. This paper presents an efficient methodology to approximate the decision of the optimal next inspection type without performing a life cycle analysis. This methodology determines the range of the value of information provided by only the next inspection. When the inspection cost is outside the range of the value of information then this method yields the decision of which inspection type to choose, negating the need for life cycle analysis. When the inspection cost for some inspection types lies within the bounds then a subsequent life cycle analysis is required, but perhaps some inspection types can be eliminated, simplifying the life cycle analysis. Thus, this method is complimentary to life cycle analysis, functioning as a quick preliminary assessment. The methodology is demonstrated through a numerical example of a corroding pipeline.