After the Great East Japan Earthquake on March 11, 2011, the paradigm shift of our lifestyle is required to solve energy and environmental problems. Personal Carbon Trading (PCT) is one of the innovative policies to improve the issues, however,its field study has not been conducted yet and the public
acceptance may be the problem for its introduction. In order to introduce such innovative policy, not only the merits but also the risks and their countermeasure should be enough considered in advance. In this study, the application method of Failure Mode and Effect Analysis (FMEA) is discussed to assess the risks of PCT. As the result, it was found that FMEA based on UML sequence chart and 15 guide words is effective to extract risk scenarios. In addition, their Priority Risk Numbers (PRNs) can be also calculated by their severities, frequencies and detectabilities.