This Standard provides the basis for developing the performance-based Failure Reporting, Analysis & Corrective Action System (FRACAS) to resolve the problems and failures of individual products along with those of their procured elements. The requirements for contractors, the planning and reporting needs, along with the analytical tools are established. The linkage of this Standard to the other standards in the new family of performance-based Reliability and Maintainability (R&M) standards is described, and a large number of keyword data element descriptions (DED) for use in automating the FRACAS process are provided.