Patent Document ID: 8887008
Application ID: 13478771
Patent Flag: 1

Claim One:
1. A system for predicting a failure of equipment from prior maintenance data of the equipment collected during a time duration, the system comprising: a computing system that includes at least one memory device and at least one processor coupled to said at least one memory device, wherein said computing system is configured to perform: estimating a number of preceding failures of the equipment prior to the time duration; calculating a probability that no failure of the equipment has occurred during the time duration, a probability that exactly one failure of the equipment but no replacement of the equipment has occurred during the time duration, a probability that there has been only one failure of the equipment followed by a replacement of the equipment during the time duration, a probability that there has been multiple failures and replacements of the equipment during the time duration; modeling, based on the prior maintenance data and the calculated probabilities, an impact of an intervention on a failure of the equipment; and modeling, based on the modeled impact of the intervention and the estimated number of preceding failures and the calculated probabilities, a replacement policy of the equipment and a probability of a subsequent failure of the equipment in a subsequent time period.