In this paper, a modified group chain acceptance sampling plan is developed based on truncated lifetimes when the life times of items follow a new kind of compound Marshall Olkin-Weibull distribution. The unknown design parameters values, i.e., optimal number of groups, operating characteristic values and optimal mean ratio of this plan are calculated by satisfying the consumer’s and producer’s risks at various specified quality levels, under the assumption that termination time and number of acceptances are prefixed. Using a real-life data set comprising the lifetimes of fifty industrial devices placed on a life test, the performance of the new sampling plan is also examined carefully through control charts. The results of the analysis demonstrated that the operating characteristic values and mean ratios are directly related to test termination time; that is, as the test termination time increases, the operating characteristic values and mean ratio of the proposed plan also increase disproportionately.