Problems cost money. The sooner an organization can anticipate and resolve a potential problem or error, the less it will ultimately cost. Fortunately, there are effective tools for hazard analysis and risk management for precisely this task.
Failure Mode and Effects Analysis (FMEA) is a powerful engineering tool for preventing problems relating to quality, reliability and safety. When applied consistently and comprehensively, FMEA can reduce or eliminate the costs of failures and other errors. As part of a quality management system (QMS), the FMEA process can also document current knowledge and actions about the risks of failures, which can be used in continuous improvement activities. As a living document, FMEA can explore, identify and reveal hidden issues in both products and services, as well as prioritize responses to those issues.
In this new Intelex Insight Report, “Mitigating Risk with FMEA & Quality Management Software,” quality experts Nicole Radziwill and Sonduren Fanarredha show you how to:
- incorporate risk-based thinking into new product design
- identify Critical to Quality (CTQ) characteristics for business or customers
- decide when and if to launch corrective or preventive actions
- decide when and if to deploy improvement projects to production
- determine whether to accept, avoid, mitigate or transfer risks, and
- prioritize and allocate resources to risk mitigation efforts.
Download your copy now.