In this thesis, a simulation cost model is presented that can be used to assess the cost-effectiveness of a selection of PdM programs. The proposed model combines a discrete event simulation (DES) model with a cost model. It is specifically designed to analyse the PdM programs for the vacuum compressor pumps at Duyvis. All the PdM programs proposed will work with vibration analysis to detect bearing failure. The simulation model will focus on the sample frequency and detect-ability of a PdM program. The sample frequency is related to maturity levels, and the detect-ability is related to detecting the different stages of bearing damage. The goal is to use the proposed simulation cost model to assess a selection of PdM programs on their overall cost and reliability.