Current risk prioritization approaches for FMEA models are insufficient to cope with risk analysis problem in which the self-confidence of expert’s judgment and the deviation among risk evaluation information are considered, simultaneously. Therefore, to remedy this limitation, this paper reports an extended risk prioritization approach by integrating the MULTIMOORA approach, Z-numbers and power weighted average (PWA) operator. Firstly, the Z-numbers with triangular fuzzy numbers are applied to reflect the self-confidence and uncertainty of expert’s judgment. Next, the PWA operator for Z-numbers (Z-PWA) with similarity measure is proposed to obtain the group risk evaluation matrix by considering the influence of the deviation among risk evaluation information. Then, an extended version of MULTIMOORA method with developed entropy method is presented to calculate risk priority ranking order of each failure. Finally, the equipment failures in a certain oil and gas plant is utilized to test the extended risk prioritization approach for FMEA model. After that, the sensitivity and comparison studies are led to illustrate the availability and reliability of the proposed risk prioritization approach for FMEA based risk analysis problem.
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