Question

5. Discuss the use of fault tree analysis (FTA) for risk assessment (maximum one paragraph).

Answer 1

Fault Tree Analysis (FTA) is a risk management tool which helps in considering unexpected or detrimental errors. It is represented in the form of tree structure with the help of ‘logical or graphical’ design. This help in finding out the root cause of the issue or problem or the ‘base level’ problem. Thus it help in taking a suitable action to avoid problem to happen in future. Some of the steps which are used in the FTA are, such as, determining the unexpected errors or reasons for project failure, getting the clear understanding of the project involved, assess the ‘fault tree’ and determine relevant corrective steps to be considered, and implement the same so as to avoid such in future with respect to the hazards. Therefore, FTA is applicable when ‘hazard analysis’ indicated of some issue, having ‘new design’ for the product or with the new feature, modifying the ‘existing product’ and which may have past failures with consumers, developing a software in a new settings or in new environment, etc.