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The video tutorial outlines a process for using finite elements method (FEM) to conduct stress analysis. Start by drawing a circle with a 20 mm diameter, centered at the origin. Perform an extrude operation to a distance of 300 mm and save the part as "shaft" with steel carbon as the material. Access the part's properties to confirm the material selection. Navigate to the environments tab and create a stress analysis simulation, naming it "calculation of bending." Check that the software correctly assigned the steel carbon material. There's an option to override the material if needed. Finally, specify the necessary constraints for the analysis.