The correct answer to this question is Severity x occurrence x risk. FMEA stands for failure mode and effects analysis. This analysis analyzes any problems that may occur and the impact they may have if they do happen. It also researches what may be the cause behind the potential failure and how likely it is to occur.
FMEA is created with a spreadsheet. The first step is to pick people who have the best experience to find any potential occurrences. From there, the participants can identify and pick apart all of the components of any risk that may happen.