A yacht is a complicated product, and the design of the yacht involves highly complex procedures and activities because of its recursive cycle. Designing a reliable and a resilient yacht is an inherently tough issue. Therefore, it would be useful to develop novel methodologies for detecting, managing and mitigating potential risks at the design phase. This paper presents an approach to manage risks and to provide strategies to increase the safety of a yacht's bilge system, which is one system such as fire, fuel oil and sea water. The method including Ordered Weighted Geometric Average (OWGA) operators, Grey Relation Theory (GRT), and Decision Making Trial and Evaluation Laboratory (DEMATEL) technique was employed to show safety limits of potential FMs in the yacht bilge system. It has been observed that the proposed method provides more accurate, reliable and realistic risk estimation and assessment in FMEA.