|I think you mean imminent failure.|
It depends on what it is that makes you think that failure is imminent. If it is the SMART system that is warning you of imminent failure then it is a good idea to make sure you have a backup of important data and think about a new hard dsik.
However, SMART is not that reliable. I had a hard disk where SMART was forecasting imminent failure and it lasted for another two years. There are some SMART warning that can be safely ignored.
There are some problems that can be resolved with a partition and format but not knowing what the problem is I can only guess.