Application of failure mode and effects analysis for risk management of a project

Abstract

Highlights

• Risk management in new projects represents an important factor for the performance of a new product, and so for the success of project.
• Some approaches in project management aim to reduce existing risks of failure in new projects.
• Among the various tools to aid in the management of risks in new projects, the Failure Mode and Effects Analysis (FMEA) stands out.
• FMEA is regarded as a tool that can aid in the prevention of failures during the design of a process or product.

Purpose

- The goal of this article is to apply the FMEA as a support tool in the risk management process of a new project in an automobile company.

Design / Methodology / Approach

- For doing so, we used theoretical-conceptual research and case study procedures.

Findings

- We observed that the application of FMEA enabled the company to identify potential failures in several operations in the vehicle assembly process, and allowed them to take actions to correct it and prevent such failures before occurring.

Research limitations/implications

- Much has been discussed about risk analysis techniques / tools. ABNT in Brazil standardizes risk management through the ISO 31000 series of standards. One of suggestions for future research is to expand the discussion of the role of FMEA in the context of ISO 31000, as also to apply new principles and guidelines in the automobile company studied, based on this risk management standard.

Practical implications

This article aims to provide greater understanding and dissemination, both in the business and academic environment, of the FMEA and the advantages that can be obtained through the use of this tool, such as reducing the risk of failure in new projects.

Originality/value                                                                                                                                                                

- This article presents the practical application of FMEA in the context of failure risk reduction in a new design of an automobile assembly plant, and can be used as a success case by companies in the automotive sector.