Abstract When designing reinforced concrete structures, the main tasks are to ensure the required strength and operational reliability, which are closely related to the technology of their construction. Composite cement-particle boards are a promising alternative for the development of a lightweight retained formwork system. Despite the technical and economic efficiency of the construction of monolithic buildings, it is not possible to eliminate the formation of industrial defects. The purpose of the study is to identify cause-and-effect relationships of defects in building structures erected from blocks of retained formwork made of cement-particle boards. The research was carried out on construction sites in industrial conditions on the territory of a residential area, including eight residential buildings of various storeys (12–16 floors). During the research, a probabilistic mathematical model for assessing the reliability of a construction technological system by structure quality parameters was developed and verified. The use of assessment of the reliability of retained formwork is an unconventional and new approach in research in the field of construction technologies. The value of the developed probabilistic approach lies in the possibility of using it to evaluate management strategies and improve technological systems.