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FMEA (Failure Modes Effects Analysis)
Failure modes effects analysis (FMEA) an in-depth examination and analysis of possible failures. It is designed to ensure that people or groups take a close look at "something." That something is meant to be wide-ranging. It can include a business process, a physical structure or a product/service.
What Small and Midsize Businesses Need to Know About FMEA (Failure Modes Effects Analysis)
FMEA is an intensive process that can be used across many industries. The multi-step process does require a range of people (from process owners, designers, and even supplies and customers) to be involved in gathering multiple perspectives. Because of this, FMEA requires time and resources that SMBs may not have. However, SMBs can still conduct modified forms of this analysis, and could even benefit from bringing outside consultants to assist with a more modified FMEA.
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