Demand for accommodating more and new functionalities within a single chip such as SOC needs a novel devices and architecture such as FinFET device instead of MOSFET. FinFET is emerged as nonplanar, multigate device to overcome short channel effects such as subthreshold swing deterioration, drain induced barrier lowering, threshold voltage roll off which degrade circuit performance. As the need of device technology is mounting in electronic gadgets the important parameters are taken into consideration such as low leakage, high reliability, low power dissipation, and high operating speed.Reliability is one of key considerations in converting a proof of concept into reality. In this work Reliability of FinFET device is studied experimentally according to ITRS (international technology roadmap for semiconductor) roadmap using several standard test protocols such as multiple current stressing, harsher environment conditions, and effect of electromigration. Furthermore, power analysis of FinFET based SRAM is done by using 7nm bsimcmg PTM les in mentor graphics tool. The FinFET based SRAM shown low leakage, power dissipation, delay compared to existing conventional MOSFET based SRAM.