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Modified Age Replacement Policy (MARP)

One of a number of asset replacement policies. that falls into the
preventive replacement class (see figure). 

Replacement of the asset is delayed until the end of the ongoing demand period, but does not deviate too far from age of the asset has reached a specific/critical operational age.

MARP attempts to deal with the shortcomings of Age-Based Replacement Policies which rely too heavily on absolute time.  

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