The Analysis of Life Cost-based FMEA

Failure Mode and Effects Analysis(FMEA) is a design tool that mitigates risks during the design phase before they occur.Risk is measured in terms of Risk Priority Number(RPN) that is a product of occurrence,severity,and detection difficult.Although many industries use the current FMEA technique,it has many limitations.Measuring severity and detection difficulty is very subjective and RPN is also a product of ordinal variables,which is not meaningful as a proper measure.This paper addresses these shortcomings and introduces a new methodology,Life Cost-Based FMEA,which measures risk in terms of cost.Life Cost-Based FMEA is useful for comparing and selecting design alternatives that can reduce the overall life cycle cost of a particular system.The Cost-Based FMEA to account for the uncertainties in: detection time,fixing time, occurrence,delay time,down time,and model complex scenarios,which measuring risk and planning preventive,scheduled maintenance and ultimately improving up-time.