With the development of information technology in manufacturing, product lifecycle iteration is accelerating. Efficiently analyzing and identifying component risks is important to ensure the reliability of products. This paper proposes a new method that combines improved design failure mode and effect analysis (DFMEA) with the knowledge graph for component risk analysis of complex products. A risk evaluation knowledge graph is built for the risk identification and knowledge provision in the process of DFMEA. Graph analysis is used to identify to-be-evaluated objectives based on historical maintenance data, which helps designers avoid the heavy task of identification. The graph matrix of the historical evaluations is used to calculate the comprehensive weights. A Dempster-Shafer (DS) evidence fusion method based on comprehensive weight evaluation information is proposed for the effective fusion of evaluation evidence. As an alternative to the exact risk ranking, we offer a risk trade-off VIKOR (VIseKriterijumska Optimizacija I Kompromisno Resenje) method for components classification that classifies components into different risk classes for different risk treatment measures. Finally, the proposed method is validated using a tunnel boring machine as an example, and comparison and sensitivity analyses are performed to demonstrate that the risk value shows a consistent and stable change with expert evaluation.
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