A comprehensively updated and reorganized new edition. The updates include comparative methods for improving reliability; methods for optimal allocation of limited resources to achieve a maximum risk reduction; methods for improving reliability at no extra cost and building reliability networks for engineering systems. Includes: • A unique set of 46 generic principles for reducing technical risk • Monte Carlo simulation algorithms for improving reliability and reducing risk • Methods for setting reliability requirements based on the cost of failure • New reliability measures based on a minimal separation of random events on a time interval • Overstress reliability integral for determining the time to failure caused by overstress failure modes • A powerful equation for determining the probability of failure controlled by defects in loaded components with complex shape • Comparative methods for improving reliability which do not require reliability data • Optimal allocation of limited resources to achieve a maximum risk reduction • Improving system reliability based solely on a permutation of interchangeable components
