Reducing risk saves lives, time, and money. Here"s a book that clearly shows you how to manage and significantly reduce risk. Risk reduction is a highly complex balance of the constant demands of equipment, personnel, and production. Based on the principles of reliability-centered maintenance, this volume helps to assess, quantify and manage risk in a wide variety of real-life situations. It goes beyond statistics and probability and shows how to actually apply risk-based management to measurably improve reliability in plant operations and maintenance programs.