Guest Post by Carl Carlson (first posted on CERM ® RISK INSIGHTS – reposted here with permission)
Destiny is no matter of chance. It is a matter of choice. It is not a thing to be waited for, it is a thing to be achieved.” – William Jennings Bryan
The Oxford English dictionary defines “reliability” as “the quality of being able to be trusted to do what somebody wants or needs.”
The textbook definition for “reliability” is “the probability that an item will perform its intended function for a designated period of time without failure under specified operating and environmental conditions.”
In this article, I will share a brief outline of the current and future state of reliability engineering, what works and doesn’t work, and why it matters to all of us.