In the world of Information Technology, or manufacturing, MTBF is a measure of reliability. It is a measure of the time you can expect an item to work before it experiences a serious malfunction. Some people see this as another way to describe planned, or programmed, obsolescence; the period of time over which an item is designed to function and then fail. Failure of a computer part or machine usually requires the purchase of a replacement. This can give a manufacturer an expected rate of repeat business.
If you look at this on a personal level, it has a different meaning. Everyone has failures. Failing is a part of living. Few people like to fail and failure can be interpreted in a negative way, but it is an unpleasant fact. One might even say it is an inconvenient truth.
If you look at the rate of failures in your business, it can be an indication of several things...
A long MTBF can mean
High Quality of project planning and oversight ( a good thing)
High percentage of low risk projects (not so good)
Not trying very many things (not good at all)
A short MTBF can mean:
Frequent attempts at high risk projects, short trial times (Good in some cases)
Poor project management, planning, or execution (Not good)
Trying the wrong things (Not good)
None of these is exclusive of the others and some can be occuring at the same time. Some may be a negative indicator in certain circumstances and yet be a positive indicator in other situations. One way to look at this is the old, "If you are not failing you are not trying" frame of mind.
What are some other things that a long or short MTBF can indicate?
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