What is Failure Mode and Effects Analysis - FMEA? PM in Under 5

Failure Mode and Effects Analysis (FMEA) is a systematic approach originating from the manufacturing industry, now valuable in project management for identifying and analyzing potential failures. The process involves assigning unique IDs, outlining functions, identifying failure modes, causes, impacts, and assessing severity, probability, and detection ease. This results in a risk priority number (RPN) to prioritize risks. FMEA is akin to a risk register but focuses on system failures, offering a structured way to manage project threats.

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