What is "failure mode and effects analysis" (FMEA)?

Failure Mode and Effects Analysis (FMEA) is a systematic methodology used to evaluate potential failures in a product, process, or system before they occur. By identifying what might go wrong (failure modes) and analyzing the effects of those failures, organizations can prioritize risks based on their severity, likelihood, and detectability. This proactive approach enables teams to address potential issues early in the design or operational phases, ultimately leading to improved safety, reliability, and efficiency.

The essence of FMEA is to foster a culture of continuous improvement within organizations by making risk management an integral part of the development process. It encourages teams to carefully assess each aspect of their work to prevent failures, thereby enhancing the overall quality and performance of their products or services. This approach is particularly valuable in sectors such as manufacturing, healthcare, and engineering, where the consequences of failures can be significant.

In contrast, the other options presented relate to various aspects of business practice but do not capture the core purpose or methodology of FMEA. Quality assurance, market research, and measuring client satisfaction address different facets of organizational effectiveness and customer engagement but lack the focus on systematic risk assessment that characterizes FMEA.