The document discusses key concepts related to reliability engineering. It defines reliability as the ability of an item to perform its required function under stated conditions for a stated period of time. It also discusses different types of reliability measures like inherent, achieved, failure rate, and mean time between failures. Different failure modes like functional, reliability and wear-out failures are described. The bathtub curve is presented as a model of failure rates over the lifetime of a product. Maintainability and availability are also defined.