Summary: We consider the development of a competing risks system following a two-stage stopping rule. This stopping procedure takes into account a desired probability of successfully completing an assigned task. Upon termination the asymptotic properties of the estimator of the system reliability, as well as the stopping time variable, are examined. Moreover, the asymptotic risk associated with the two-stage procedure is presented. This risk is anchored on a loss function that considers losses incurred in not attaining the desired reliability and that of excessive testing.