Probabilistic Safety Assessment and Management is a collection of papers presented at the PSAM 7 - ESREL '04 Conference in June 2004. The joint Conference provided a forum for the presentation of the latest developments in methodology and application of probabilistic and reliability methods in various industries. The aim of these applications is the optimisation of technological systems and processes from the perspective of a risk-informed safety management while also taking economic and environmental aspects into account. Bringing together leading experts from all over the world, the papers reflect a wide variety of disciplines, such as principles and theory of reliability and risk analysis, systems modelling and simulation, consequence assessment, human and organisational factors, structural reliability methods, software reliability and safety, insights and lessons from risk studies and management/decision making.