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Many real systems are composed of multi-state components with different performance levels and several failure modes. These affect the whole system's performance. Most books on reliability theory cover binary models that allow a system only to function perfectly or fail completely. "The Universal Generating Function in Reliability Analysis and Optimization" is the first book that gives a comprehensive description of the universal generating function technique and its applications in binary and multi-state system reliability analysis. Features:- an introduction to basic tools of multi-state system reliability and optimization;- applications of the universal generating function in widely used multi-state systems;- examples of the adaptation of the universal generating function to different systems in mechanical, industrial and software engineering. This monograph will be of value to anyone interested in system reliability, performance analysis and optimization in industrial, electrical and nuclear engineering.