The document discusses Failure Mode and Effects Analysis (FMEA), which is a step-by-step approach to identify all possible failures in a design, manufacturing process, product, or service. There are different types of FMEAs, including system, design, process, service, and software. The FMEA procedure involves 16 steps, such as describing the product/process, creating a block diagram, identifying failure modes and their causes and effects, determining likelihood ratings, reviewing risk priority numbers, and determining and implementing recommended actions. The goal is to mitigate risks by taking actions to address potential failures with high risk priority numbers.