Definition - What does Reliability mean?
Reliability is the extent to which a process yields the same outcome on repeated trials. Exploration and production organizations face challenges in improving the efficiency of current reserves, as ensuring reliability in the oil and gas industry is not an easy task. Thus, manufacturers use high quality and reliable products to ensure safety and regulatory compliance. Reliable equipment empowers all the operations to improve throughput and minimize downtime.
Petropedia explains Reliability
In order to measure reliability, data should be collected with utmost care and attention. The main advantage of verifying reliability is that it helps in testing hypothesis and in measuring errors. The various types of errors which can affect the reliability of a product are sampling error, random error, measurement error, and data analysis error. Apart from this, there are diverse classes of reliability which include:
- Inter-method reliability- It assesses the degree at which the test scores are consistent
- Inter-rater reliability- It provides assessment between two or more raters
- Internal consistency reliability- It provides consistency of results across the test