Semi-Markov Processes: Applications in System Reliability and Maintenance is a modern view of discrete state space and continuous time semi-Markov processes and their applications in reliability and maintenance. The book explains how to construct semi-Markov models and discusses the different reliability parameters and characteristics that can be obtained from those models. The book is a useful resource for mathematicians, engineering practitioners, and PhD and MSc students who want to understand the basic concepts and results of semi-Markov process theory. Clearly defines the properties and theorems from discrete state Semi-Markov Process SMP theory. Describes the method behind constructing Semi-Markov SM models and SM decision models in the field of reliability and maintenance. Provides numerous individual versions of SM models, including the most recent and their impact on system reliability and maintenance.