Abstract: The method of rivet installation creates a preload on the workpieces being joined. The installation steps include inserting a rivet into two or more workpieces to be joined and engaging the head of the rivet with an upper two piece tooling assembly while engaging the tail of the rivet with a counterbore provided in a lower tool. In phase one of installation, which follows these engagement steps, the lower tool exerts a compressive force upon the rivet tail, thereby deforming the tail to form a lower upset head. In phase two of installation, an inner retractable pin of the two piece tooling assembly is withdrawn from contact with the rivet head while an outer ring tool of the tooling assembly exerts a compressive force upon peripheral portions of the rivet head, thereby deforming the rivet head periphery to form an enlarged rim comprising an upper upset head. This deformation of the rivet head periphery produces a preload. Both phase one and phase two of installation are executed in one continuous motion.