The main FMEA (Failure Mode and Effects Analysis) objective is the identification of ways in which a product, process or service fail to meet critical customer requirements, as well as the ranking and prioritization of the relative risks associated with specified failures. The effectiveness of prioritization can be significantly improved by using a simple graphical tool, as described by the authors. Evaluation of the adequacy of correction actions proposed to improve product/process/service, and the prioritization of these actions, can be supported by implementing the procedure proposed here, which is based on the evaluation of correction action feasibility. The procedure supports evaluation of both the feasibility of a corrective action implementation and impact of the action taken on failure mode.