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failure mode and effect analysis


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(FMEA)

A technique for analysing how systems might fail and what the consequences of that failure would be. Primarily used to calculate and predict risks for safety and insurance purposes, FMEA identifies all the ways in which it is possible for each component to fail and then follows through the consequence of each type of failure. From this data it is possible to develop preventive maintenance and contingency plans.

Subjects: Business and Management.


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