1. A systematic study of failures will help in identifying areas that may cause :
i. Loss of adjacent parts/ equipment/ whole equipment.
ii. Loss of production and revenue.
iii. Loss of human life. Evaluate the safety index of a product or system.
iv. Loss of resources, damage to the environment.
v. Loss of goodwill and damage to the competitive position of the company
2. Determine the failure distribution of products, their sub-systems and components; identifying the underlying causes.
3. Establish a correlation of failure occurrence with life of equipment.
4. Study the types of failures experienced by parts, components, products and systems; the effects of age, mission duration, application and operation stress level on overall system reliability. This will lead to recommendations on strengthening design and R & D effort to minimize these.
5. Provide methods of updating reliability predictions as more data and test results become available.