FMEA means failure mode and effect analysis which is a systematic analysis for identifying and preventing potential failures of a system, product or process before they occur. It's widely used in a variety of industries. However, not all FMEA applications are successful. Even though they have used FMEA to prevent risk from happening, a lot of significant excursions still occur. In this paper, we have proposed a systematic methodology for FMEA application to ensure the completeness and correctness of FMEA and the implementation of risk prevention through daily management. The methodology consists of 6 steps. Step1: Three Views of a System; Step 2: Medical Report Analysis; Step 3: FMEA Framework Development; Step 4: Potential Risk Analysis; Step 5: Finding Analysis; and Step 6: Daily Management. It makes FMEA application more comprehensive, more rational, and more solid. Besides, we use Titanium Nitride Chemical Vapor Deposition (TINCVD) process of semiconductor wafer foundry as a case study to explain the application of the methodology and verify its feasibility step by step. This methodology has been applied in UMC Singapore Branch widely to product, process and equipment FMEA of wafer foundry and works very well.