Failure Mode and Effects Analysis (FMEA) is a powerful risk assessment technique which has broad applicability to hardware, software, and services. Using a systematic approach initially popularized in the aerospace industry, it examines potential product and process failures and drives the team to eliminate obvious, as well as latent, causes. It is a formal way to identify potential problems and address ways to prevent or lessen the impact of problems.

The technique is best applied at the earliest portions of product and process concept selection. It readily transforms itself into a living document as it grows and changes as knowledge about the subject changes over the life of the product.

Initially, the information may be subjective. It may be estimates based upon the information available. However, as actual data becomes available the FMEA analysis should be updated to reflect this process.

Some of the benefits of the proper application of FMEA include:

Identification of potential product/process failure modes
Assessment of failure effects on the customer
Identification of the root cause of failure
Identification of where best to place controls
A tool to prioritize the actions of the team
A living history of the teams actions and thoughts through the life of the product/process