Integrating SWOT analysis into the FMEA methodology to improve corrective action decision making

Agung Sutrisno, Hyuck Moo Kwon, Indra Gunawan, Steven Eldridge and Tzong Ru Lee

International Journal of Productivity and Quality Management, 2016, vol. 17, issue 1, 104-126

Abstract: Improving the method for selecting risk-based competing improvement strategies has equal importance with failure risk quantification in the FMEA methodology. Nevertheless, there are few studies which focus on this issue. Furthermore, the influence of factors relating to the business environment 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 by integrating SWOT analysis into the FMEA method in order to support the appraisal of competing risk-based improvement efforts. The impact of SWOT variables is deployed using a decision support model based upon the benefit, cost, opportunity, risk and organisational readiness index (BCOR2) approach in order 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 and improves upon the decisions provided by existing developments of the FMEA methodology.

Keywords: FMEA; failure mode and effects analysis; SWOT analysis; BCOR; organisational readiness; corrective action; competing risks; benefits; costs; opportunities. (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=73283 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijpqma:v:17:y:2016:i:1:p:104-126

Access Statistics for this article

More articles in International Journal of Productivity and Quality Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().