Application of the FMEA Technique in a Project Risk Analysis

Abstract

Project risk management aims at defining adequate risk response strategies, which includes the prior identification and analysis of project risks. By using techniques such as FMEA (Failure Modes and Effects Analysis) for project risk analysis, it is possible to prevent ineffective and inefficient spending of time and resources in the project, prevent failures and contribute to meeting the project goals and the project success.

Keywords

• project
• risk
• project risk analysis
• fmea