New Tricks for an Old Tool

Abstract:Failure mode and effects analysis (FMEA) has been used across many industries for years to calculate and manage potential risk, but it can have its own failure modes associated with it. In order to deal with these new failure modes, marginal risk and risk sensitivity can be introduced. Failure modes associated with a FMEA assessment can include inaccurate starting data leading to underestimating risks, a change in risks over time that is not caught by the FMEA, or inaccurate assignments or thresholds for risk priority numbers (RPN). Introducing a marginal risk priority number (MRPN) can show the change in an RPN based on potential marginal errors, which can provide insight and help mitigate risk more …

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great article!
--Johnny Mora, 02-09-2020

Good refresher.
--Soumen, 05-26-2017

I really like the systematic method for estimating a margin of error around the RPN.
--Melanie Simmons, 05-19-2017

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