This Standard provides the basis for developing the analysis of failure modes, their effects, and criticality in the context of individual products along with the known performance of their elements. The requirements for contractors, the planning and reporting needs, along with the analytical tools are established. The linkage of this Standard to the other standards in the new family of performance-based reliability and maintainability standards is described, and all of the keywords for use in automating the Product FMECA process are provided.