Failure Mode Effects Analysis (FMEA) is a systematic approach used to identify potential failures in a product or process. It evaluates the effects of these failures on system performance, helping teams prioritize risks based on their severity, occurrence, and detectability. This proactive method aims to improve reliability and safety by addressing issues before they occur. The FMEA process typically involves assembling a cross-functional team to brainstorm possible failure modes, assess their impact, and develop action plans to mitigate risks. By documenting findings in a structured format, organizations can enhance their decision-making and improve overall quality in their operations.