The paper undertakes an analysis of the limitations related to the use of the Total Productive Maintenance (TPM) method in companies from the chemical and fertilizer industry and the possibilities of implementing FMEA (Failure Mode and Effects Analysis) for risk assessment. It presents the basic assumptions of the TPM method, a literature review and the specifics of implementing this method in the chemical industry. Then, it discusses how the FMEA method can support processes related to the identification and assessment of potential obstacles faced by companies implementing innovative technical solutions. It indicates the possibilities of synergy between TPM and FMEA in the context of risk management in complex industrial processes.