Abstract: Effectively managing risk is an essential element of successful project management. It is imperative that project management team consider all possible risks to establish corrective actions in the right time. So far, several techniques have been proposed for project risk analysis. Failure Mode and Effect Analysis (FMEA) is recognized as one of the most useful techniques in this field. The main goal is identifying all failure modes within a system, assessing their impact, and planning for corrective actions. In traditional FMEA, the risk priorit...
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Topics: 
Risk analysis (engineering)
Reliability engineering
Operations research