A Condition Based Inspection (CBI) is the ability to calculate the expected wear rate of equipment or its components to determine the expected life span, which is calculated based on the information obtained from inspection. The optimal replacement threshold is often based on minimisation of long-run average maintenance costs per unit time due to preventive and failure replacements. It is assumed that inspections are performed at equal time intervals and that the corresponding cost is negligible. (Opposed to the Risk Based Inspection (RBI))

Related Definitions in the Project: The Risk Management; Quality Management; Operation and Maintenance