The Failure mode and effect analysis (FMEA) is an effective risk evaluation approach which has been widely used to assist in risk controlling in various workplaces. However, in practice, the conventional FMEA approach suffers from the drawbacks associated with the risk evaluation and priorization methods. In this paper, a novel risk priorization method for FMEA based on the extended MULTIMOORA (Multi-Objective Optimization by Ratio Analysis plus the Full Multiplicative Form) method is proposed. First, the interval type-2 fuzzy sets are applied to deal with the uncertainty of risk evaluation in FMEA. Second, the distance-based method is used to calculate the importance weight of each risk factor. Then, an extended MULTIMOORA method is presented to rank risk priority of each failure mode, in which the distance measure for interval type-2 fuzzy number is incorporated. Finally, a practical case in steel company is selected to illustrate the application and feasibility of the proposed approach. A comparative analysis is conducted to demonstrate the effectiveness of the developed risk priorization method.
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