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Probabilistic Risk Assessment (PRA) and
Probabilistic Safety Assessment (PSA)

Probabilistic Risk Assessment and Probabilistic Safety Assessment (PRA and PSA) are reliability assessment methods used to analyze systems where safety is a critical factor. They determine the reliability of a product or system based on the probability of component or system failure. A PSA generally deals with safety-related issues, while a PRA may deal with other non-safety issues.
Two reliability analysis methods that provide this information are the Fault Tree Analysis (FTA) and Event Tree Analysis (ETA).

more information: http://www.physics-of-failure.com/

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