Damages in concrete structures due to aging and other factors could be a serious and immense matter. Making the best selection of the most viable and practical repairing and strengthening techniques are relatively difficult tasks using traditional methods of structural analyses. This is due to the fact that the traditional methods used for assessing aging structure are not fully capable when considering the randomness in strength, loads and cost. This paper presents a reliability-based methodology for assessing reinforced concrete members. The methodology of this study is based on probabilistic analysis, using statistics of the random variables in the performance function equations. Principles of reliability updating are used in the assessment process, as new information is taken into account and combined with prior probabilistic models. The methodology can result in a reliability index B that can be used to assess the structural component by comparing its value with a standard value. In addition, these methods result in partial safety factor values that can be used for the purpose of strengthening the R/C elements of the existing structure. Calculations and computations of the reliability indices and the partial safety factors values are conducted using the First-order Reliability Method and Monte Carlo simulation.