What best reflects the purpose of the management tool Failure Modes and Effects Analysis?

The purpose of Failure Modes and Effects Analysis (FMEA) is centered around identifying potential failure modes within a system or process, evaluating their effects on operation, and prioritizing those failures based on their impact and likelihood. By systematically analyzing how and where failures might occur, organizations can proactively implement measures to mitigate risks and enhance system reliability.

While preventive maintenance is important, FMEA specifically serves more than just as an indicator for maintenance needs. It is a comprehensive risk evaluation tool that helps organizations foresee potential failures and their consequences, which is crucial for implementing effective preventive measures.

In this context, the focus of FMEA aligns more closely with risk evaluation techniques. It assists teams in understanding and prioritizing risks, guiding improvements in design, processes, and system reliability. Thus, the emphasis on identifying and prioritizing failure modes reflects a broader application in risk management rather than being limited to preventive maintenance alone.