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Definition of

Failure Mode and Effects Analysis

Risk

way of identifying and dealing with potential failures a method for identifying and ranking the seriousness of ways in which a product, process, or service could fail, and finding ways in which to minimize the risk of those potential failures.

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Definitions of ’Failure Mode and Effects Analysis’ and meaning of ’Failure Mode and Effects Analysis’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Failure Mode and Effects Analysis’ and other financial terms with our online QFINANCE Financial Dictionary.

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