A Case Study of Aircraft Maintenance Repairs

and also by the Polytechnic Institute of Lisbon through the Projects for Research, Development, Innovation and Artistic Creation (IDI&CA), within the framework of the project ReEdIA—Risk Assessment and Management in Open Innovation, IPL/2021/ReEdIA/ISEL. Publisher Copyright: © 2022 by the authors. This paper proposes a qualitative model to overcome the limitations of conventional failure mode and effects analysis (FMEA), which does not consider risk mitigation capabilities when prioritizing risks. Failure to consider these capabilities can lead to unrealistic risk estimates, especially when the level of uncertainty is high. In the proposed model, the original applicability of conventional FMEA was retained along with the three conventional risk variables, namely, severity, occurrence, and detectability. In addition, a fourth variable was added to account for risk mitigation capabilities. A case study in the project selection of aircraft repairs was used to demonstrate the implementation of the model and its applicability. The results show that the inclusion of mitigation options leads to more realistic risk scenarios, suggesting that the original FMEA approach may lead to non-conservative risk estimates. publishersversion published