Your Reliability Engineering Professional Development Site
Risk is uncertainty. Will this work? How will this item fail? Is it safe? Risk is not limited to product failure, including brand topics such as market acceptance, regulatory approval, supply chain stability, international conflicts, and more. Reliability engineering tends to focus on product failure to perform as expected, and we must fit into the large context of risks facing any product or system.
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Risk is borne from uncertainty. The reliability performance of your product line and individual products is uncertain. Identifying and understanding the risks involved helps your team mitigate reliability performance risks.
An obvious risk and common question when developing a new product involves the field failure rate. If the failure rate is too high, it may dissuade customers from buying the product. If too low, we assign funds unnecessarily to cover unrealized warranty expenses.
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