Building on the concept of the fault correction profile — a set of functions that predict fault correction events as a function of failure detection events — introduced in previous research, we define and apply reliability risk metrics that are derived from the fault correction profile. These metrics assess the threat to reliability of an unstable fault correction process. The fault correction profile identifies the need for process improvements and provides information for developing fault correction strategies. Applying these metrics to the NASA Goddard Space Flight Center fault correction process and its data, we demonstrate that reliability risk can be measured and used to identify the need for process improvement.