Failure Modes, Effects, and Diagnostic Analysis (FMEDA) is used to determine fault metrics for safety related hardware. FMEDA provides insight into the failure rate of safety related electrical components/circuits to show evidence that the desired ASIL rating is met for ISO 26262 projects.

All electrical components used to implement a safety goal (including any safety mechanisms) are analyzed. The analysis determines what single-point failures as well as any latent faults that could cause safety goal violations.
Safety mechanisms implemented in the system are used to determine the diagnostic coverage of a fault. With high diagnostic coverage, a random hardware fault is likely to be caught by the safety mechanism to prevent safety goal violations.

Every safety goal is analyzed independently in a separate FMEDA. This ensures all aspects of the electrical design to be considered for each safety goal, making the analysis useful and effective.