Citation

Cannon JA. J. Saf. Res. 1974; 6(4): 159-165.

Copyright

(Copyright © 1974, U.S. National Safety Council, Publisher Elsevier Publishing)

DOI

unavailable

PMID

unavailable

Abstract

This paper presents a mathematical methodology for the economic analysis of hazards. The analysis consists of four parts: 1) estimation of the hazard cost; 1) estimation of the costs of various solutions to eliminate or minimize the hazard; 3) culmination of the unfeasible solutions; and 4) determination of the optimal solution or solutions. Several examples of various phases of the analysis are presented, as well as the total analysis for a hypothetical industrial operation. The validity and accuracy of the estimates used in the analysis are discussed.