21
RELIABILITY –
BASIS FOR TRUST
Dietrich Werner, Germany
21.1 Introduction
The term ‘reliability’ in its meaning is oscillating according to the
context in which it is used. In the field of asset management ‘reliability’
refers to degree of creditworthiness (‘Bonität’) and can be reduced to the
quality and security of somebody’s assets, i.e. a financial category.^207 In
the field of human relations ‘reliability’ often is associated with trust-
worthiness: If I can trust a person and his performances, his actions are
honest, credible, to a certain extent predictable; actions promised will be
delivered. Here, ‘reliability’ is a matter of personal integrity and trans-
parency. In the area of industry and engineering ‘reliability’ is referred
to as ‘the ability of an apparatus, machine, or system to consistently per-
form its intended or required function or mission, on demand and with-
out degradation or failure.’^208 In the field of business, management and
leadership styles synonyms for ‘reliable’ are ‘dependa-
ble, responsible, trustworthy, trusty’. To be reliable means to be capable
207
Some of these asset management professionals have even created a Certified
Reliability Leader-System, which is published on behalf of the Association of
Asset Management Professionals: http://www.maintenance.org/pages/crl 208
See; http://www.businessdictionary.com/definition/reliability.html#ixzz45P9
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