Risk-informed regulation of marine systems using FMEA

The marine industry is recognizing the powerful techniques that can be used to perform risk analysis (procedure for risk assessment, risk management, and risk communication) of marine systems. One technique that has been incorporated in both national and international marine regulations is Failure Mode and Effects Analysis (FMEA). This analysis assumes a failure mode occurs in a system/component through some failure mechanism; the effect of this failure is then evaluated. A risk ranking can be developed in a more detailed variant of FMEA called Failure Mode and Effects Criticality Analysis (FMECA).