Failure mode and effect analysis is an engineering technique that is used to identify and eliminate known and/or potential failures, problems, errors and so on from the system, design, process and service before they reach the customer. FMEA is developed by American companies who has lost their power against the better quality and cheaper Japanese products in 1970's. The most critized points of the methodology are subjectivity of the evaluations in terms of probability, severity and detectability and the gap between the evaluations and improvements. New methods to improve these weaknesses are searched during this study. In order to achieve these goals, it was decided that it would be better if the same team identifies the improvement alternatives for each faikure cause as well as failure modes, effects and causes. Then Simple Weighted Average and consequently ELECTRE methods are used for identifiying best improvement alternative for each failure cause. After applying above mentioned methodology, a new matrix including failure costs, improvement activity to overcome this failure and the cost of the improvement is obtained. Then it should be decided that all the points that have vital risk must be improved. For the other causes an optimum solution should be choosen by evaluating failure and improvement costs. By proceeding the above mentioned improvements Failure Mode and Effect Analysis Methodology should be named as Failure Mode Effect and Prevention Analysis. Additionally the methodology is now much more solution based, selecting the best alternative more objectively than the past and establishing strong relations between failures and improvements.