A computer-aided methodology and practical applications of risk-based evaluation of technical specifications are described. The methodology, developed for use by the utility industry, is a part of the overall process of improving nuclear power plant technical specifications. The SOCRATES computer program uses the results of a probabilistic risk assessment or a system-level risk analysis to calculate changes in risk due to changes in the surveillance test interval and/or the allowed outage time stated in the technical specification. The computer program can accommodate various testing strategies (such as staggered or simultaneous testing) to allow modeling of component testing as it is carried out at the plant. The methods and computer program are an integral part of a larger decision process aimed at determining benefits from technical specification changes. These benefits can include cost savings to the utilities by reducing forced shutdowns and decreasing labor requirements for test and maintenance activities, with no adverse impacts on risk. The methodology and the SOCRATES computer program have been used extensively to evaluate several actual technical specifications in case studies demonstrating the methods. Summaries of these applications demonstrate the types of results achieved and the usefulness of the risk-based evaluation in improving the technical specifications.