Cost/Benefit Analysis
To ensure that value is added to the design process, cost/benefit analysis should be performed to indicate whether the FMEA can be completed within the needed time frame and at a reasonable cost. Costs for implementing a FMEA include the time needed for training, meetings, analysis and implementation of the recommended prevention and detection measures. Also to be determined and considered are:
• Costs for implementing the FMEA process, which has been tailored to the complexity of the system.
• Impact on product development costs due to late design modification or over design.
• Impact on operating costs of the product due to product maintenance and reliability issues of any remaining fault potentials.