Capital Spare

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A Capital Spare is identified through the Failure Modes and Effects Analysis (FMEA) that determines the probability of failure through a normal operation and the scheduled Preventative Maintenance (PM) programme. Capital spares are a secondary tier of the inventory, available within a specified time frame. (Refer to the Insurance Spare; Spare Parts Optimisation)

Related Definitions in the Project: The Operation and Maintenance; Procurement

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