J2940_202002 Use of Model Verification and Validation in Product Reliability and Confidence Assessments

This SAE standard outlines the steps and known accepted methodologies and standards for linking Model V&V with model-based product reliability assessments. The standard’s main emphasis is that quantified values for model-based product reliability must be accompanied by a quantified confidence value if the users of the model wish to claim use of a “Verified and Validated” model, and if they wish to further link into business and investment decisions that are informed by quantitative second-order risk and benefit cost considerations.