The Failure Mode and Effects Criticality Analysis (FMECA) process anticipates things that can go wrong with a project or an asset. FMECA identifies asset functions, functional failures, failure modes, and failure effects. FMECA also classifies the severity of a failure using an established severity classification. You use FMECA to determine the impact of failures on safety, environment, operations, and business.

• Function - Defines the intended purpose of the asset being reviewed. This is documented in the required standard of performance.
• Functional Failure - The inability of the asset to perform within its specified limits.
• Failure Mode - Defines an asset condition that can result in a functional failure.
• Failure Effect - The result of a functional failure on interfacing items, functional capabilities, and safety.