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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.