Time to Failure Distributions and Reliability Measures: Probability Density and Cumulative Distribution Functions. Conditional Reliability, Failure Rate, Cumulative Failure Rate and Average Failure Rate. Reliability Measures. Problems. Probabilistic Models for Nonrepairable Objects: Shock models and component life distributions. Classes of Aging/Rejuvenating Distributions and Their Properties. Models with Explanatory Variables. Probabilistic Models for Repairable Objects: Point Processes as Model for Repairable Systems Failure Processes. Homogeneous Poisson Process as a Simplest Failure-Repair Model. Renewal Process: "as Good as New" Repair Model. Non-Homogeneous Poisson Process: "as Good as Old" Repair Model. Generalized Renewal Process. Inequalities for reliability measures and characteristics for Renewal and Generalized Renewal Processes. Geometric Process: Adding the "Better Than New" Repair. Gini-Type Index for Aging/Rejuvenating Processes. Appendices. References.