Erratum--Tests for Suboptimal Actions in Discounted Markov Programming (Vol. 19, No. 9 (May 1973), pp. 1019-1022).

A new test for suboptimal actions in discounted Markov decision problems is proposed. The test is discussed in relation to that of MacQueen and Porteus and preferred computational schemes are given.

A test for nonoptimal actions in undiscounted Markov decision chains is proposed. The test eliminates actions for one or more stages after which they may re-enter the set of possibly optimal actions, but as convergence proceeds such re-entries cease.

Significantly extended from the first edition and published in response to the new international standard ISO55000, this book on physical asset management (2nd Ed.) presents a systematic approach to the management of physical assets from concept to disposal. It introduces the general principles...

Introduction to Asset Management -- Structure and Activities -- Asset Management Personnel -- From Concept to Project Approval -- Financial Methods -- Developing a Business Case -- Implementing Development Plans -- Life Cycle Planning and Costing -- Know Your Assets -- Asset Continuity Planning...