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This SAE standard outlines the steps and known accepted methodologies and standards for linking Model V&V with model-based product reliability assessments. The standard’s main emphasis is that quantified values for model-based product reliability must be accompanied by a quantified confidence value if the users of the model wish to claim use of a “Verified and Validated” model, and if they wish to further link into business and investment decisions that are informed by quantitative second-order risk and benefit cost considerations.

This SAE standard outlines the steps and known accepted methodologies and standards for linking Model V&V with model based product reliability assessments. The standard’s main emphasis is that quantified values for Model-based product reliability must be accompanied by a quantified confidence value if the users of the model wish to claim use of a “Verified and Validated” model, and if they wish to further link into business and investment decisions that are informed by quantitative second-order risk and benefit cost considerations.