A new methodology for failure rate evaluation with influencing factors is proposed. A quantitative part allows integrating potential available data from feedback. Then, a qualitative analysis deals with influencing factors such as design, environment, and use to provide more coherent and argued results. The main idea is to use some criteria to fix the failure rate within a prior interval, according to the influencing factor states. To this end, the system is broken up into main component groups. When a component group is susceptible to an influencing factor, its baseline failure rate is multiplied by the relevant influencing coefficient. A seven-step methodology is presented to define the model, identify and rate the influencing factors, set indicator functions taking the uncertainties into account, and calculate the influencing coefficients. The proposed methodology is global enough to be usable for a large number of safety instrumented systems and influencing factors. For example, an application regarding safety pressure relief valves is given. The prospect is for more efficient risk management by acting both on systems and influencing factors.