The paper formulates an optimal reliability design problem for a series system made of parallel redundant subsystems. The variables for optimization are the number of redundant units in each subsystem and the reliability of each unit. There is a cost-constraint. The time for which the system reliability exceeds a specified value is to be maximized. Similarly the cost could be minimized for a constraint on the mission time and reliability. A solution method for the formulated problems is presented along with an example.