Based on the results of research in physical asset management, "Maintenance, Replacement, and Reliability: Theory and Applications" introduces students to the tools for making data-driven decisions and how to use them. The book offers a solid theoretical foundation for these tools, demonstrating applications through various case studies. Firmly rooted in reality, the applications covered relate to areas such as food processing, the military, mining, transportation, steel, and petrochemical and pharmaceutical industries. Ideal for classroom use, this text features supplementary software that can be downloaded from the CRC Web site. The downloadable educational versions of software packages include: OREST, SMS, EXAKT for CBM optimization, PERDEC, Workshop Simulator, Crew Size Optimizer, and WiebullSoft. This book can be used as a textbook for a one-semester senior undergraduate or postgraduate course on maintenance decision analysis. It provides problem sets with answers at the end of each chapter, an extensive set of Power Point slides covering the various chapters and appendices, a solutions manual for the problems in the book, and a bank of more than 100 examination questions. The authors approach the topic with the ideology that mathematical modeling is not a spectator sport. Their examination of the underpinning theories for formulating models and exploration of real-world applications make the book both informative and practical. It provides professors with the tools they need to easily teach their students how to transform data into information.