Cost-benefit analysis for SHM systems based on minimum detectable parameter change
The expected monetary value is a criterion for assessing the Value of Structural Health Monitoring (SHM) and supporting the associated decision making. Its calculation can be challenging, as it requires considering all possible outcomes of the SHM system. In this article a new approach to cost-benefit analysis for SHM systems is proposed, which is based on an estimate of the capability of the SHM
