TAILIEUCHUNG - The Risk Management of Safety and Dependability_9

Tham khảo tài liệu 'the risk management of safety and dependability_9', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | How to ensure the health and safety of people at work 227 The cost of safety and reliability Risk management costs money. A case has to be given to spend the money and to justify its use. The cost should be considered as an insurance premium paid to protect the loss of an asset. The money to be invested can then be evaluated against the consequences that need to be avoided. However it should be recognised that all loss is not directly financial. Loss of public confidence will ultimately result in loss of revenue which can be measured but the cost of regaining it will be more difficult to assess see Table . The true cost Most companies have insurance cover for liabilities due to injuries and the ill health of employees for third-party claims and for plant and buildings. Costs not covered by insurance can include sick pay damage or loss of product and raw materials repairs to plant and equipment overtime working and temporary labour production delays extra cost of temporary contracting out renting of temporary premises investigation time fines. Table Assets at risk Risk to Hazard Financial loss Other loss Plant facility Fire explosion failure to produce output or quality Capital product cash flow Customers Output Reliability Cash flow Goodwill Quality Failure of QC Warranty claims Goodwill Reliability Poor design Cost of modifications Goodwill sales loss Workers Accidents and fatal injuries effect on health due to emissions Compensation Lost time loss of expertise need to train new workers Public Ditto Compensation Public relations goodwill political repercussions Woodhead Publishing Limited 2010 228 The risk management of safety and dependability Studies by HSE have shown that uninsured losses in a year for a range of typical businesses could range from 2 to 36 times the premiums paid for insurance cover. On average for every 1 paid in insurance premiums 10 was spent on uninsured costs. It is possible to determine the savings to be made by .

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