Only a handful of books cover both Reliability Engineering and Probabilistic Risk Assessment (PRA) together. With a focus on reliability analysis, this text provides a practical and comprehensive overview of reliability and risk analysis techniques. This second edition features additional topics including generalized renewal with applications, more detailed Bayesian estimation methods, and estimation of bounds of repairable unit reliability and availability. With numerous illustrative examples, this book also expands discussions on the models for physics of failure type probabilistic life estimation and uncertainty analysis and presents elementary risk analysis techniques.