As an effective implement, failure mode and effects analysis (FMEA) is widely applied in the security of system for practical application. Nowadays, many methods determine the order of fault mode by a crisp risk priority number (RPN). However, these methods exist several shortcomings, for instance, the correlation of the assessments given by team members are not fully considered. In this article, a new method for risk assessment and sequence for failure modes in FMEA is proposed on account of the D-S evidence theory and the evidential correlation coefficient. By using the proposed approach, the weights of team members for each failure mode and risk factor is obtained. Then the weighted assessments are used to perform the aggregation process by Intuitionistic fuzzy weighted averaging (IFWA) operator. A classic application regarding risk assessment is used to verify the effectiveness of the proposed method.