Learn the tools to assess product reliability! Haldar and Mahadevan crystallize the research and experience of the last few decades into the most up-to-date book on risk-based design concepts in engineering available. The fundamentals of reliability and statistics necessary for risk-based engineering analysis and design are clearly presented. And with the help of many practical examples integrated throughout the text, the material is made very relevant to today's practice. Key Features Covers all the fundamental concepts and mathematical skills needed to conduct reliability assessments. Presents the most widely-used reliability assessment methods. Concepts that are required for the implementation of risk-based design in practical problems are developed gradually. Both risk-based and deterministic design concepts are included to show the transition from traditional to modern design practice.