Markov Model

Markov Model - a probabilistic model that can accurately capture the effects of order dependent component failure and of changing failure rates resulting from stress or other factors. In general, Markov modeling is used to evaluate system reliability as a function of time by mapping out the states of the system - fully operational, degraded, failed - and the probability of moving from one state to another. Markov models are most useful for modeling complex behavior associated with fault-tolerant systems, degraded modes of operation, repairable systems, sequence-dependent behavior and time-varying failure rate.

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Source: The Quality Portal, 15 April 2011 09:52:52, http://thequalityportal.com/glossary/l.htm