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I am currently undergoing MSc Programme from sheffield university (2011-2012) . Can anybody suggest me a proper procedure in order to apply for Ph.d programmes in European countries. I mean how should I begin with it and at what time should I start to apply for Ph.d, if I am going to complete my MSc next year (2012) ??? I am very thankful for your suggestions.

In UK you can look for Sheffield, Heriott Watt , Aberdeen, Manchester. They all conduct research programmes in n Risk & Reliability Engineering. You need to talk to professor of the University who is working in your specialization and then make application. I wish you good luck.