For the repairable multi-state component, reliability indexes are analyzed based on a homogenous Continuous Time Markov
Chain (CTMC). If the component can work well when its repair time is sufficiently short, a threshold value for maintenance is
introduced. When the fault interval is less than threshold time, the fault effect is considered neglected. In this paper, comparisons of
availability show differences of the new model and the original model with or without fault interval omission. In addition, balancing the maintenance cost and lifetime of multi-state components is an important issue when threshold values are considered. Both
constants and non-negative random variables are modeled respectively. Finally, numerical examples are presented to illustrate
the results obtained in this paper
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