Product Design (PD) currently faces challenges in new product development, since the industry is in a rush to introduce new products into the market, with customers demanding products that are faster, cheaper, and free from failure. In addition, global companies are trying to improve their product design risk assessment process to gain advantages over competitors, using proven tools like Failure Mode and Effect Analysis (FMEA) and mixing risk assessment methods. However, with current risks assessment tools and a combination of other methods, there is the opportunity to improve risk analysis. This document aims to reveal a novel integrated method, where FMEA, Pythagorean Fuzzy Sets (PFS), and Dimensional Analysis (DA) are cohesive in one model. The proposed method provides an effective technique to identify risks and remove uncertainty and vagueness of human intervention during risk assessment using the Failure Mode and Effect Analysis method. A real-life problem was carried out to illustrate the proposed method. Finally, the study was substantiated by using a correlation and sensitivity analysis, demonstrating the presented integrated method’s usefulness in decision-making and problem-solving.