Economic consequences

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Method Category:

Categories: Terms

The only consequences of a functional failure, which is evident to the operating organization and has no direct effect on operating safety.

Economic-life limit
A life limit imposed on an item to reduce the frequency of age-related failures that have economic consequences.

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About Fred Schenkelberg

I am the reliability expert at FMS Reliability, a reliability engineering and management consulting firm I founded in 2004. I left Hewlett Packard (HP)’s Reliability Team, where I helped create a culture of reliability across the corporation, to assist other organizations.

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