Stochastic Processes
Failure Mode and Effects Analysis (FMEA) is a systematic method used to identify potential failure modes within a system, process, or product and evaluate the impact of these failures on the overall performance. This proactive approach helps organizations prioritize risks based on their severity, occurrence, and detection, ultimately leading to improved reliability and safety. FMEA is often utilized in engineering, manufacturing, and healthcare to enhance quality control and mitigate potential issues before they arise.
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