Which term describes a structured process for evaluating how a project or product might fail?

The term that describes a structured process for evaluating how a project or product might fail is Failure Mode and Effects Analysis (FMEA). FMEA is a systematic approach used to identify potential failure modes within a system, product, or process and to evaluate the effects of those failures on overall performance. This analysis helps teams prioritize risks based on the severity of the potential failure and the likelihood of its occurrence, allowing them to address the most critical issues first.

FMEA is beneficial in various stages of product development and manufacturing because it improves reliability and quality by identifying weaknesses before they can lead to real-world problems. By doing so, organizations can implement corrective actions proactively, mitigating risks and enhancing the overall robustness of the project or product.

Benchmarking refers to comparing processes or performance metrics to industry standards or best practices, while process mapping involves visualizing the flow of processes to identify inefficiencies or areas for improvement. Lean manufacturing focuses on minimizing waste and maximizing value in production processes but does not specifically evaluate potential failures. These other concepts serve valuable purposes, but they do not specifically describe the structured evaluation of potential failure modes like FMEA does.