The costs of industrial accidents for the organization: Developing methods and tools for evaluation and cost-benefit analysis of investment in safety

Arieh Gavious, Shlomo Mizrahi, Yael Shani, Yizhaq Minchuk

Research output: Contribution to journalArticlepeer-review

93 Scopus citations

Abstract

This paper proposes methods for reliable evaluation of the costs involved in industrial accidents for an organization - especially in relation to loss of production. We use a management approach that is based on the "Theory of Constraints". Industrial accident costs contain two major cost-categories: direct costs and indirect ones. While direct costs are easily recognizable indirect costs cannot always be easily recognized attributed to the accident. The research shows the importance of evaluating indirect costs and develops a model that calculates the real cost of an accident.

Original languageEnglish
Pages (from-to)434-438
Number of pages5
JournalJournal of Loss Prevention in the Process Industries
Volume22
Issue number4
DOIs
StatePublished - 1 Jul 2009

Keywords

  • Accident
  • Bottleneck
  • Cost
  • Economic model
  • Process industry
  • Theory of constraints

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Food Science
  • General Chemical Engineering
  • Safety, Risk, Reliability and Quality
  • Energy Engineering and Power Technology
  • Management Science and Operations Research
  • Industrial and Manufacturing Engineering

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