This paper presents a new method for projecting the reliability growth of a complex continuously operating system. The model allows for arbitrary corrective action strategies, and it differs from other models of this type by using all available data rather than failure mode first occurrence times only. It also differs from other reliability growth projection models in that it provides a complete inference framework via the posterior distribution on the system failure intensity. A unique feature of this approach relative to other Bayesian techniques is the analytic expression for the failure intensity contribution from unobserved failure modes. Expressions for estimating the initial failure intensity, growth potential failure intensity, and the cumulative number of failure modes expected in future testing are also developed. Extensions to the basic framework are also developed. The first accounts for multiple systems under test, and the second develops the posterior distribution while allowing for uncertainty on the Fix Effectiveness Factor values that are assessed. Two separate goodness-of-fit procedures are presented for assessing the appropriateness of the underlying model assumptions.Index Terms-Bayesian reliability, fix effectiveness, reliability growth, reliability growth projection.