Reliability engineering is concerned with ensuring systems and components function as intended for a specified period of time. It involves tasks like requirements specification, design, testing, and maintenance to analyze and improve reliability. A reliability engineer identifies potential failure modes and assesses risks to reduce costs from downtime and repairs. Key responsibilities include advising on new installation designs, participating in risk management, and developing engineering solutions to recurring problems. Reliability engineering differs from safety engineering in considering a broader set of hazards focused on costs rather than severe accidents.