%0 Journal Article %A Reza Lotfalian and Sudarshan Martins and Peter Radziszewski %D 2014 %J International Journal of Electrical and Computer Engineering %B World Academy of Science, Engineering and Technology %I Open Science Index 91, 2014 %T Reliability-Based Life-Cycle Cost Model for Engineering Systems %U https://publications.waset.org/pdf/9998793 %V 91 %X The effect of reliability on life-cycle cost, including initial and maintenance cost of a system is studied. The failure probability of a component is used to calculate the average maintenance cost during the operation cycle of the component. The standard deviation of the life-cycle cost is also calculated as an error measure for the average life-cycle cost. As a numerical example, the model is used to study the average life-cycle cost of an electric motor. %P 1247 - 1252