Integrating SWOT Analysis into the FMEA Methodology to Improve Corrective Action Decision Making

Improving the method for selecting risk-based competing improvement strategies has equal importance with failure risk quantification inthe FMEA methodology. Nevertheless, there are few studies which focus on this issue. Furthermore, the influence of factors relating to the businessenvironment which may support or derail improvement efforts is not considered in previous studies. In order to address these limitations, a model is proposed in which the impact of environmental factors is considered byintegrating SWOT analysis into the FMEA method in order to support the appraisal of competing risk-based improvement efforts. The impact of SWOTvariables is deployed using a decision support model based upon the benefit, cost, opportunity, risk and organisational readiness index (BCOR2) approach inorder for the FMEA team to select from competing corrective actions. A case example from industry is provided in which the proposed model is applied. This example illustrates that this new model contributes successfully to good practice by identifying the most appropriate corrective action option to take andimproves upon the decisions provided by existing developments of the FMEA methodology.