In this paper, reliability model of two identical units with cold standby system is analyzed stochastically. Maintenance policy for the standby has been adopted before getting it into operation. A system model is developed in which standby unit undergoes for maintenance with some probability when it is not operable at the failure of primary unit. The concept of inspection policy has also been introduced for detecting the need of repair or replacement before the failed unit repaired by some repair mechanism. There is a single repair facility which acts as inspection, replacement, maintenance and repair. The maintenance and repair of the unit are perfect. All random variables are statistically independent. The analysis is carried out on the supposition that all time distributions are general except failure, replacement and inspection time distributions are exponentials. Stochastic behavior of the system has been studied in steady state using semi-Markov process and regeneration point graphical technique and several parameters of interest are obtained. Numerical results pertaining to some special cases are also added.  The behavior of some important performance measures have been examined graphically giving particular values to the parameters.

Keywords: Stochastic System, Maintenance and Inspection Policies, Repair and Reliability Models.