FMEA

Failure Mode and Effects Analysis is actually a procedure for quality assurance of production and management. Its formal principle is applied in project management to translate imponderables and risks into calculable processes. This is done with the help of tables, the first column heading of which often names the process to which a disruption relates. Likewise, the type, cause, probability of occurrence and consequences of the possible disruption/imponderability are listed in separate columns.

» Terms from A-Z