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The methodology of FMEA (Failure Mode and Effects Analysis - Analysis of types and consequences of failures) provides a simplified, based on the analysis of the equipment an alternative to the more capacious approach of RCM. The analysis aims to develop priorities for corrective action based on risk assessment. 

The use of the methodology FMEA/FMECA allows to justify, to evaluate the adequacy and effectiveness of the solutions applied to improve the system of maintenance and repair facility. The analysis helps to determine whether a reliable system from the viewpoint of assurance of timely warning about refusals and in terms of ensuring safety, environmental impact and efficiency use of assets. 

Conducting FMEA is to identify possible failure modes of components and equipment in general, their causes, mechanisms and conditions of occurrence and development. The application of the methodology also helps identify possible adverse consequences of failures and assess their severity, select critical processes. 
The decision on the basis of the methodology FMEА includes some of the steps of the RCM process, but offers the team of analysts to answer questions related to equipment and risk assessment:
  • What types of failures are possible?
  • What happens when each failure?
  • What affects the occurrence of each failure?
  • What needs to be done to predict or prevent each failure?
  • What needs to be done if the failure cannot be prevented?
The answers to these questions will allow the reliability engineers to identify failures and their impact on equipment, and then develop recommendations for actions which will allow to prevent failures. 
In contrast to the RCM analysis, whose main task is to prevent functional failures, the FMEA technique simplifies the identification and prevention of most critical types of failure identified for the equipment.