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The findings of our research study are presented in the form of this book, which are summarized in five chapters. Chapter-1 is of general introduction along with survey of literature on inverse Rayleigh distribution and related distributions. In Chapter-2, ML and Modified ML estimation and reliability estimation of inverse Rayleigh distribution are discussed. In Chapter-3, we constructed the variable control charts along with Analysis of Means (ANOM) for inverse Rayleigh distribution. In Chapter-4, we developed variable sampling plans based on inverse Rayleigh distribution and also illustrated the method using lifetime data. In Chapter-5, we have presented the estimation of stress-strength reliability in single component as well as multi-component systems, where the stress, strength variates are assumed to follow inverse Rayleigh distribution. The numerical tables computed along with the listings of the computer programs are presented towards the end of respective chapters. The references are appended alphabetically at the end of this book.