This monograph gives a modern presentation of some of the classical areas of reliability using the modern theory of stochastic processes. It will be of interest to researchers and graduate students in probability theory and reliability engineering.

A comprehensive up-to-date presentation of some of the classical areas of reliability, based on a more advanced probabilistic framework using the modern theory of stochastic processes. This framework allows analysts to formulate general failure models, establish formulae for computing various performance measures, as well as determine how to identify optimal replacement policies in complex situations.

Basic Reliability Theory.- Stochastic Failure Models.- Availability Analysis of Complex Systems.- Maintenance Optimization.