This paper introduces stochastic process algebras as an approach for t
he structured design and analysis of both the functional behavior and
performance characteristics of parallel and distributed systems. This
is achieved by integrating stochastic modelling and analysis into proc
ess algebras like CCS or LOTOS. We demonstrate how notions of equivale
nt behavior - substantial for process algebras - stand in a new light
for stochastic process algebras. In particular we discuss the impact o
f stochastic versions of such equivalences on compositional performanc
e analysis by means of a running example. In addition we discuss analy
sis techniques, tool support and include a survey of related work as w
ell as recent trends in this area. (C) 1998 Elsevier Science B.V. All
rights reserved.