Reliability assessment is an important component and tool used for process plants since the facility consists of many loops and instruments attached and operates based on each other availability, thus it requires a statistical method to visualize the reliability. The paper focuses on reliability assessment and prediction based on available statistical models such as normal, log-normal, exponential, and Weibull distribution. This paper also visualizes, which model fits best for assessment and prediction and also considers failure modes caused during a simulation mode process control operation. A simulation model is designed in this paper to observe the failure of the control valve causing stiction to visualize the failure modes and predict the best-fit model for reliability assessment.