Failure rates predicted by Failure Modes Effects and Diagnostic Analysis (FMEDA) are compared to failure rates estimated from the Offshore Reliability Data (OREDA) project for sensor and valve assemblies. Because the two methods of data analysis are fundamentally different in nature, it may be surprising that, when appropriately compared, the results from the two methods are generally quite similar. The nature of the published data for FMEDA and OREDA is explored. The relative merits of each method are discussed.