Outline the systematic application of Failure Modes and Effects Analysis (FMEA) to identify critical single-point failures within a locomotive's high-voltage propulsion circuit and prioritize maintenance interventions.

Failure Modes and Effects Analysis (FMEA) is a systematic, proactive methodology used to identify potential failure modes within a system, process, or product, assess their potential effects and causes, and prioritize actions to eliminate or reduce the risk of those failures. Its application to a locomotive's high-voltage propulsion circuit aims to enhance reliability and safety by meticulously identifying critical points where a single failure can lead to catastrophic consequences or complete loss of function, and then directing maintenance efforts effectively.