Preface for the Second Edition management of assets, and (3) data management issues, including cases where data are unavailable or sparse. Chapter 2 now discusses how candidates for component replacement can be prioritized using the Jack-knife diagram. Three new appendices support the tools introduced in the book: Maximum Likelihood Estimator (MLE), Markov chains and knowledge elicitation procedures based on a Bayesian approach to parameter estimation. Elearning materials now supplement two previous appen dices (Statistics Primer and Weibull Analysis) Finally, we have updated the appen dix "List of Applicatios of Maintenance Decision Optimization Models. ‘The book will be a valuable textbook for undergraduate or postgraduate courses on maintenance decision analysis; problem sets with answers are provided at the end of each chapter, and additional resources ate available, including an extensive set of PowerPoint slides and a solutions manual. Instructors who adopt the book can obtain these resources from the publisher's Website. The book is also appropriate for tue to four-day continuing professional development courses for maintenance and seliabilty professionals. Outside the classroom, we expect that upper level under graduate engineering students and graduate students of management who focus fn operations management and engineering graduate students addressing issues of maintenance and reliability engineering will use the book as a reference, as will executives responsible for the construction, management, and disposal of all asset classes (such as plant, equipment, and IT assets), consultants responsible for opti- mizing life cycle decisions for clients and maintenance, and reliability professionals within an organization ‘We ate happy to offer an updated and enhanced version of an important resource for thousands of maintenance engineers. Andrew K.S. Jardine and Albert H.C. sang, 2013,