The rotary swaging process is a cold working process used to reduce the diameter, produce a taper or add point to a round workpiece. For the preform design of a swaged shell nose part by a rotary swaging process, finite element simulation and experimental verification have been carried out to obtain a shell body nose of desired quality. Reliability analysis for the occurrence of process-induced cracks is performed by fault tree analysis. The various process parameters such as initial nose thickness, feed distance and reduction diameter are applied for the fault tree in order to obtain the desired target dimensions. Through simulation, the effects of initial nose thickness on the swaged shapes are analyzed. With fault tree analysis, the risk of process-induced cracks was predicted by finite element simulation and the crack occurrence was verified by swaging experiment. The results show that a swaged shell nose part having higher reliability can be successfully produced by rotary swaging process.