The IEC 61508 standard recommends the use of a functional safety lifecycle. Any safety lifecycle can be used, but the standard does lay out a nominal 16-step process which can be divided into three main classifications as an example. 

The Analysis phase of the lifecycle deals with gathering background information to identify and specify the needs for the system. The Realisation phase concerns system design and fabrication, while the Operation phase deals with using and maintaining the system properly during its operating life.