Component (such as light bulbs and electronic elements) is commonly used for electronic product and other mass produced items. Such methods are now being used for equipment-see OREDA database. The component reliability method uses the concept of hazard function, mean time to failure, mean time to repair to determine the reliability. However, reliability of equipment depends on the mode of operation, as not all equipment working at full specification all the time. Moreover, the number of equipment failure is not on par with light bulbs failure, and equipment fails due to various reasons. It seems a better way to determine equipment reliability would be to use FORM, SORM and other similar method.
Where do you stand with regard to such practice?