Target Reliability Tool Example - Revision history

Lisa Hacker at 18:57, 18 September 2023

2023-09-18T18:57:04Z

← Older revision		Revision as of 18:57, 18 September 2023
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	<noinclude>{{Banner Weibull Examples}}		<noinclude>{{Banner Weibull Examples}}
	''This example appears in the [~~[Target_Reliability_Tool#The_Weibull~~.2B.~~2B_Target_Reliability_Tool\|~~Life ~~Data Analysis Reference book]~~]''.		''This example appears in the [https://help.reliasoft.com/reference/life_data_analysis Life data analysis reference]''.

	Deciding on a reliability goal/target involves trade-offs. This is because higher reliability typically correlates with higher production costs, lower warranty costs, higher market share and higher unit sales price. This example illustrates how to use the Target Reliability tool in Weibull++ to estimate the target reliability for a product based on financial considerations.		Deciding on a reliability goal/target involves trade-offs. This is because higher reliability typically correlates with higher production costs, lower warranty costs, higher market share and higher unit sales price. This example illustrates how to use the Target Reliability tool in Weibull++ to estimate the target reliability for a product based on financial considerations.

Nicolette Young at 22:27, 23 December 2015

2015-12-23T22:27:57Z

← Older revision		Revision as of 22:27, 23 December 2015
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	The following figure shows the Cost vs. Reliability plot of the cost models. The green vertical line on the plot represents the estimated reliability value that will minimize costs. In this example, this reliability value is estimated to be 96.7% at the end of the warranty period.		The following figure shows the Cost vs. Reliability plot of the cost models. The green vertical line on the plot represents the estimated reliability value that will minimize costs. In this example, this reliability value is estimated to be 96.7% at the end of the warranty period.

	[[Image: Target Reliability Example Cost Plot.png\|center\|~~550px~~]]		[[Image: Target Reliability Example Cost Plot.png\|center\|650px]]

	The following figures show the Profit vs. Reliability plot and the R3OI vs. Reliability plot. In the R3OI plot, the initial investment is set to $10,000.		The following figures show the Profit vs. Reliability plot and the R3OI vs. Reliability plot. In the R3OI plot, the initial investment is set to $10,000.

	[[Image: Target Reliability Example Profit Plot.png\|center\|~~550px~~]]		[[Image: Target Reliability Example Profit Plot.png\|center\|650px]]


	[[Image: Target Reliability Example R3OI Plot.png\|center\|~~550px~~]]		[[Image: Target Reliability Example R3OI Plot.png\|center\|650px]]

Richard House at 05:48, 6 August 2012

2012-08-06T05:48:02Z

← Older revision		Revision as of 05:48, 6 August 2012
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	The following table provides information for a particular product regarding market share, sales prices, cost of production and costs due to failure.		The following table provides information for a particular product regarding market share, sales prices, cost of production and costs due to failure.


	[[Image: Target Reliability Example Inputs.png\|center\|650px]]		[[Image: Target Reliability Example Inputs.png\|center\|650px]]


	The first row in the table indicates the probability of failure during the warranty period. For example, in the best case scenario, the expected probability of failure will be 1% (i.e., the reliability will be 99%). Under this reliability, the expected market share is 80%, average unit sale price is $2.10, average cost per unit to produce is $1.50 and other costs per failure is $0.50.		The first row in the table indicates the probability of failure during the warranty period. For example, in the best case scenario, the expected probability of failure will be 1% (i.e., the reliability will be 99%). Under this reliability, the expected market share is 80%, average unit sale price is $2.10, average cost per unit to produce is $1.50 and other costs per failure is $0.50.

	The assumed maximum market potential is 1,000,000 units and the initial investment is $10,000.		The assumed maximum market potential is 1,000,000 units and the initial investment is $10,000.


	'''Solution'''		'''Solution'''
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	Enter the given information in the Target Reliability tool in Weibull++ and click the '''Plot''' icon on the control panel. Next, click the '''Analysis Details''' button on the control panel to generate a report of the analysis. The following report shows the cost models.		Enter the given information in the Target Reliability tool in Weibull++ and click the '''Plot''' icon on the control panel. Next, click the '''Analysis Details''' button on the control panel to generate a report of the analysis. The following report shows the cost models.

	[[Image: Target Reliability Example Model Results.png~~\|thumb~~\|center\|550px]]		[[Image: Target Reliability Example Model Results.png\|center\|550px]]


	The following figure shows the Cost vs. Reliability plot of the cost models. The green vertical line on the plot represents the estimated reliability value that will minimize costs. In this example, this reliability value is estimated to be 96.7% at the end of the warranty period.		The following figure shows the Cost vs. Reliability plot of the cost models. The green vertical line on the plot represents the estimated reliability value that will minimize costs. In this example, this reliability value is estimated to be 96.7% at the end of the warranty period.

			[[Image: Target Reliability Example Cost Plot.png\|center\|550px]]

	~~[[Image: Target~~ Reliability ~~Example Cost Plot~~.~~png\|thumb\|center\|550px]]~~		The following figures show the Profit vs. Reliability plot and the R3OI vs. Reliability plot. In the R3OI plot, the initial investment is set to $10,000.

			[[Image: Target Reliability Example Profit Plot.png\|center\|550px]]

	~~The following figures show the Profit vs. Reliability plot and the R3OI vs. Reliability plot. In the R3OI plot, the initial investment is set to $10,000.~~

	~~[[Image: Target Reliability Example Profit Plot.png\|thumb\|center\|550px]]~~

	[[Image: Target Reliability Example R3OI Plot.png~~\|thumb~~\|center\|550px]]		[[Image: Target Reliability Example R3OI Plot.png\|center\|550px]]

Richard House at 07:48, 3 August 2012

2012-08-03T07:48:51Z

← Older revision		Revision as of 07:48, 3 August 2012
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	[[Image: Target Reliability Example Inputs.png\|center\|~~550px~~]]		[[Image: Target Reliability Example Inputs.png\|center\|650px]]


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	Enter the given information in the Target Reliability tool in Weibull++ and click the '''Plot''' icon on the control panel. Next, click the '''Analysis Details''' button on the control panel to generate a report of the analysis. The following report shows the cost models.		Enter the given information in the Target Reliability tool in Weibull++ and click the '''Plot''' icon on the control panel. Next, click the '''Analysis Details''' button on the control panel to generate a report of the analysis. The following report shows the cost models.

	[[Image: Target Reliability Example Model Results.png\|thumb\|center\|~~450px~~]]		[[Image: Target Reliability Example Model Results.png\|thumb\|center\|550px]]


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	[[Image: Target Reliability Example Cost Plot.png\|thumb\|center\|~~450px~~]]		[[Image: Target Reliability Example Cost Plot.png\|thumb\|center\|550px]]


	The following figures show the Profit vs. Reliability plot and the R3OI vs. Reliability plot. In the R3OI plot, the initial investment is set to $10,000.		The following figures show the Profit vs. Reliability plot and the R3OI vs. Reliability plot. In the R3OI plot, the initial investment is set to $10,000.

	[[Image: Target Reliability Example Profit Plot.png\|thumb\|center\|~~450px~~]]		[[Image: Target Reliability Example Profit Plot.png\|thumb\|center\|550px]]

	[[Image: Target Reliability Example R3OI Plot.png\|thumb\|center\|~~450px~~]]		[[Image: Target Reliability Example R3OI Plot.png\|thumb\|center\|550px]]

Kate Racaza at 07:18, 24 July 2012

2012-07-24T07:18:20Z

← Older revision		Revision as of 07:18, 24 July 2012
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	''This example appears in the [[Target_Reliability_Tool#The_Weibull.2B.2B_Target_Reliability_Tool\|Life Data Analysis Reference book]]''.		''This example appears in the [[Target_Reliability_Tool#The_Weibull.2B.2B_Target_Reliability_Tool\|Life Data Analysis Reference book]]''.

	Deciding on a reliability goal/target involves trade-offs. This is because higher reliability typically correlates with higher production costs, lower warranty costs, higher market share and higher unit sales price. This example illustrates how to use the Target Reliability tool in Weibull++ to estimate the target reliability for a product based on financial considerations. ~~</noinclude>~~		Deciding on a reliability goal/target involves trade-offs. This is because higher reliability typically correlates with higher production costs, lower warranty costs, higher market share and higher unit sales price. This example illustrates how to use the Target Reliability tool in Weibull++ to estimate the target reliability for a product based on financial considerations.


			</noinclude>
	'''Determining Reliability Based on Costs'''		'''Determining Reliability Based on Costs'''

Kate Racaza at 07:17, 24 July 2012

2012-07-24T07:17:28Z

← Older revision		Revision as of 07:17, 24 July 2012
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	<noinclude>{{Banner Weibull Examples}}		<noinclude>{{Banner Weibull Examples}}
	''This example appears in the [[Target_Reliability_Tool#The_Weibull.2B.2B_Target_Reliability_Tool\|Life Data Analysis Reference book]]''.~~</noinclude>~~		''This example appears in the [[Target_Reliability_Tool#The_Weibull.2B.2B_Target_Reliability_Tool\|Life Data Analysis Reference book]]''.

	~~'''Determining~~ Target Reliability ~~Based~~ on ~~Costs'''~~		Deciding on a reliability goal/target involves trade-offs. This is because higher reliability typically correlates with higher production costs, lower warranty costs, higher market share and higher unit sales price. This example illustrates how to use the Target Reliability tool in Weibull++ to estimate the target reliability for a product based on financial considerations. </noinclude>

	Deciding on a reliability goal/target involves trade-offs. This is because higher reliability typically correlates with higher production costs, lower warranty costs, higher market share and higher unit sales price. This example illustrates how to use the Target Reliability tool in Weibull++ to estimate the target reliability for a product based on financial considerations.

			'''Determining Reliability Based on Costs'''

	The following table provides information for a particular product regarding market share, sales prices, cost of production and costs due to failure.		The following table provides information for a particular product regarding market share, sales prices, cost of production and costs due to failure.

Kate Racaza at 07:12, 24 July 2012

2012-07-24T07:12:29Z

← Older revision		Revision as of 07:12, 24 July 2012
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	''~~'Target Reliability - Determine Target Reliability Based on Costs'~~''		<noinclude>{{Banner Weibull Examples}}
			''This example appears in the [[Target_Reliability_Tool#The_Weibull.2B.2B_Target_Reliability_Tool\|Life Data Analysis Reference book]]''.</noinclude>

	~~This example illustrates how to use the~~ Target Reliability ~~tool in Weibull++ to estimate the target reliability for a product based~~ on ~~financial considerations.~~		'''Determining Target Reliability Based on Costs'''

	~~With high product~~ reliability~~, the initial~~ production ~~cost is expected to be high~~, ~~and the cost due to failure is expected to be low. Moreover~~, ~~a product with high reliability is expected to have a~~ higher market share and higher unit sales price. ~~A suitable~~ reliability ~~goal will be determined using these factors~~.		Deciding on a reliability goal/target involves trade-offs. This is because higher reliability typically correlates with higher production costs, lower warranty costs, higher market share and higher unit sales price. This example illustrates how to use the Target Reliability tool in Weibull++ to estimate the target reliability for a product based on financial considerations.

	~~In this example, information on market share, sales prices, cost of production and costs due to failure are given in the following figure.~~

	~~[[Image: Target Reliability Example Inputs~~.~~png\|thumb\|center\|300px]]~~		The following table provides information for a particular product regarding market share, sales prices, cost of production and costs due to failure.

	The first row in the above table is the probability of failure during the warranty period. For example, in the best case, the expected probability of failure will be 1% (i.e., the reliability will be 99%). Under this reliability, the expected market share is 80%, average unit sale price is $2.10, average cost per unit to produce is $1.50 and other costs per failure is $0.50.

	The assumed maximum market potential is 1,000,000 and the initial investment is $10,000.		[[Image: Target Reliability Example Inputs.png\|center\|550px]]


			The first row in the table indicates the probability of failure during the warranty period. For example, in the best case scenario, the expected probability of failure will be 1% (i.e., the reliability will be 99%). Under this reliability, the expected market share is 80%, average unit sale price is $2.10, average cost per unit to produce is $1.50 and other costs per failure is $0.50.

			The assumed maximum market potential is 1,000,000 units and the initial investment is $10,000.


	'''Solution'''		'''Solution'''

	~~Based~~ on the ~~inputs~~, the cost models ~~are estimated and the results are shown below~~:		Enter the given information in the Target Reliability tool in Weibull++ and click the '''Plot''' icon on the control panel. Next, click the '''Analysis Details''' button on the control panel to generate a report of the analysis. The following report shows the cost models.

			[[Image: Target Reliability Example Model Results.png\|thumb\|center\|450px]]

	~~[[Image: Target Reliability Example Model Results.png\|thumb\|center\|250px]]~~

			The following figure shows the Cost vs. Reliability plot of the cost models. The green vertical line on the plot represents the estimated reliability value that will minimize costs. In this example, this reliability value is estimated to be 96.7% at the end of the warranty period.

	~~From these models, the Cost vs. Reliability plot is:~~

	[[Image: Target Reliability Example Cost Plot.png\|thumb\|center\|~~250px~~]]		[[Image: Target Reliability Example Cost Plot.png\|thumb\|center\|450px]]

	~~The plot shows that the best reliability value is 98.298%.~~

	The Profit vs. Reliability and R3OI vs. Reliability ~~plots are also given below~~. In the R3OI plot, the initial investment is set to $10,000.		The following figures show the Profit vs. Reliability plot and the R3OI vs. Reliability plot. In the R3OI plot, the initial investment is set to $10,000.

	[[Image: Target Reliability Example Profit Plot.png\|thumb\|center\|~~250px~~]]		[[Image: Target Reliability Example Profit Plot.png\|thumb\|center\|450px]]

	[[Image: Target Reliability Example R3OI Plot.png\|thumb\|center\|~~250px~~]]		[[Image: Target Reliability Example R3OI Plot.png\|thumb\|center\|450px]]

Kate Racaza: moved Template:Example: Target Reliability-Determine Target Reliability Based on Costs to Target Reliability Tool Example: incorrect title and namespace

2012-07-24T07:06:59Z

moved Template:Example: Target Reliability-Determine Target Reliability Based on Costs to Target Reliability Tool Example: incorrect title and namespace

← Older revision	Revision as of 07:06, 24 July 2012
(No difference)

Nicolette Young at 00:00, 26 April 2012

2012-04-26T00:00:41Z

← Older revision		Revision as of 00:00, 26 April 2012
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	In this example, information on market share, sales prices, cost of production and costs due to failure are given in the following figure.		In this example, information on market share, sales prices, cost of production and costs due to failure are given in the following figure.

	[[Image: Target Reliability Example Inputs.png\|thumb\|center\|~~250px~~]]		[[Image: Target Reliability Example Inputs.png\|thumb\|center\|300px]]

	The first row in the above table is the probability of failure during the warranty period. For example, in the best case, the expected probability of failure will be 1% (i.e., the reliability will be 99%). Under this reliability, the expected market share is 80%, average unit sale price is $2.10, average cost per unit to produce is $1.50 and other costs per failure is $0.50.		The first row in the above table is the probability of failure during the warranty period. For example, in the best case, the expected probability of failure will be 1% (i.e., the reliability will be 99%). Under this reliability, the expected market share is 80%, average unit sale price is $2.10, average cost per unit to produce is $1.50 and other costs per failure is $0.50.

Nicolette Young at 00:00, 26 April 2012

2012-04-26T00:00:30Z