Failure mode and effect analysis (FMEA)
A formal step-by-step analytical method that is a spin-off of reliability analysis
FMEA proceeds as follows
critically examine the system in question
Divide the system into its various components
Rate each potential failure according to the degree of hazard (0=no hazard,1=slight,2=moderate,3=extreme,4=severe)
Examine all potential failures for each individual component of the system and decide what effect the failure could have