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Systems such as satellites, aircrafts, automobiles and air traffic controls are becoming increasingly complex and highly integrated, as prescribed by the SAE ARP 4754 Standard. They integrate many technologies and they work in very demanding environments, sometimes with little or no maintenance, due to the severe conditions of operation. To survive such harsh operating conditions, they require very high levels of reliability, to be reached by a diversity of approaches, processes, components, etc. By their turn, the processes of analysis and decision making shall be improved progressively, as experience accumulates and suggests modifications. Most of this can be translated in models. According to this philosophy, in this work, we discuss the use of Model Based Reliability for improving the results of the Reliability Analysis and FMEA/FMECA of a satellite program, as those conducted at the National Institute for Space Research-INPE, since 1979.