Failure mode and effect analysis (FMEA)

Failure mode and effect analysis (FMEA) is an analytical technique that identifies all potential failures in a process or product, and then determines what the effect of failure will be. It also looks at the effect of one identified failure on the chances of other failures occurring and the combined effect of multiple failures. If variances are detected during the assessment and analysis of project performance, the use of failure mode and effect analysis gives the project manager an understanding of the likely cause and impact of the variance