Boilers are of high importance, providing the necessary steam for many industrial processes. Due to their exposure to harsh conditions, they often lead to frequent technical issues, frequent failures, and unplanned downtime, which significantly affects productivity. This study combines Failure Mode and Effects Analysis(FMEA) and Monte Carlo simulation to enhance reliability and mitigate the risk of failure in critical boiler components. FMEA is used to identify high-risk components, assess failure modes, and prioritize maintenance actions based on the Risk Priority Number (RPN). Monte Carlo simulation complements this approach by modeling failure scenarios and estimating reliability under changing conditions. The analysis identified five critical components, with reliability simulations revealing an average reliability of less than 50%. Recommendations from this analysis include the implementation of advanced diagnostics, simulation-based inspections, preventive maintenance measures, and comprehensive technician training.