As a reliability engineer, I do a lot of probabilistic risk analysis and reliability based design for large systems like gas turbines, etc. From both a theoretical and applied perspective, this is an excellent text for those getting into this subject.

The book is written in a pleasing style, in which complex ideas are introduced in a manner than anyone (with no prior statistical training) can understand. It is a small book that packs a lot of information in it, and the companion volume by the same authors is another excellent text on the same topic. I particularly liked their treatment of LRFD methods and the FORM algorithms.

On the negative side, I found the algorithms described in Madsen's "Methods of structural safety" easier to implement. The authors might want to incorporate some of those methods in their next edition. They could also discuss approaches to model time-dependent reliability, apart from including empirical probability distributions in design.

Overall, I have read most of the texts out there in reliability-based design and this is clearly the best. It's an expensive book, but well worth the money !

This book is among one of the best books in this subject. It captures all different aspects of probability, reliability and statistical methods in engineering design in one book with clear details and examples. The latest advancements in this area are also included in this book. I do recommend it for any engineering student taking courses in this area.

If there are two textbooks in probabilistic design that are really worth buying, I would reccomend this one and its companion volume "Probability, Reliability and Statistical Methods in Engineering Design" by the same authors. What makes these books so useful is the clear and effective writing style of the authors - which is why its a favorite amongst undergrads, grads and reliability engineers in Industry. A very useful primer in any company implementing a "Design for Reliability" program as a part of their Six Sigma efforts.