Failure analysis is the systematic investigation of a part failure with the objectives of determining the root causes of failure and the corrective actions needed to prevent future failures. Failures occur when some system or part of a system fails to perform up to the expectations for which it was created.
Failure analysis is commonly performed in the following industries:
Oil & gas
Pulp & paper
Failure analysis is important in preventing recurring and costly shutdowns and possibly liability. Subrogation is a term describing a legal right held by most insurance carriers to legally pursue a third party that caused an insurance loss to the insured. Insurance companies may look at recovering the costs of a failure from the persons responsible.