ASME Pressure Vessel and Piping Code (BPVC) Section XI Committee Division 2 has recently completed the development of a proposed new code named the “Reliability and Integrity Management (RIM).” RIM was developed using the system-based code (SBC) concept proposed by the Japanese Society of Mechanical Engineers (JSME) in 2012. Key to the SBC concept is the requirement for the establishment of a co-reliability target (or, reliability-index target by JSME terminology). Such target is usually in the low probability ranges such as 1.0 E−8 to 1.0 E−3. In a paper presented at the 2018 International Symposium on Structural Integrity (ISSI2018), Nov. 2–5, 2018, Nanjing, China, we developed a new theory of fatigue and creep rupture life modeling for metal alloys at room and elevated temperatures such that the co-reliability target can be estimated from fatigue and creep tupture test data. To illustrate an application of this new modeling approach, we included two numerical examples using (a) the fatigue failure data of six AISI 4340 steel specimens at room temperature (Dowling, N. E., 1973) and (b) the creep rupture time data of 37 specimens of 1.3Mn-0.5Mo-0.5Ni steel plates at 500 C (NRIM, 1987). Since the ASME BPVC Section XI Div. 2 RIM Code has just been developed, and the information in that yet-to-be-published ISSI2018 Proceedings is critical to the implementation of that RIM Code, it is, therefore, of interest to the engineering community to have a preview of that information in the form of a technical brief as described in this PVP2019 conference paper.