Power transformers are large capital items with long lead times for production; they are critical to our electric infrastructure, and their reliability is an important subject for analysis. Reliability, however, doesn’t just ‘”happen” – it is a consequence of specifying and buying a well-built transformer and ensuring careful shipment to site, proper installation and subsequent life management. These technical activities and processes are included in an overall asset management program, which balances cost, risk and performance. Reliable in-service transformers are the result of more than just ”data” and statistics; there needs to be action planned and intervention performed to address reliability issues at the source.