Showing 2 results for Investment
Mahboobeh Kefayati, Mahnaz Mirza Ebrahim Tehrani, Omid Saber Fard,
Volume 10, Issue 4 (11-2020)
Abstract
Introduction: Even with the rising number of diseases and their severity as well as occupational-environmental accidents occurring within organizations, most managers do not still care about the profitability of implementing the health, safety, and environment (HSE) management system requirements.
Material and Methods: Accordingly, the integration of the HSE costs calculated through engineering-economics relations was investigated to evaluate the given profitability using a different approach. For this purpose, costs of diseases and occupational-environmental accidents were computed (n=2207), and then lack of their spending was considered as system income. By determining the correlation and calculating the P-value as well as the associated costs, the regression model was subsequently fitted. Investment in the HSE management system was further examined, and return on investment (ROI) and net present value (NPV) were calculated. Afterwards, the relationship between ROI and disease recurrence rates together with occupational-environmental accidents was explored.
Results: health costs with a P-value=0.03 had a significant effect on disease recurrence rates, so that the incidence rate was equal to 1.432 e-15 as it increased by one unit. The costs of accidents with a P-value=0.048 also had a substantial impact on the occurrence of occupational accidents and a growth by one unit, wherein the accident recurrence rates were 9.183 e. However, no significant association was found between environmental accidents and disease incidence rates.
Conclusion: The results implied that investment in HSE management systems is not just in accordance with implementing profitability requirements, but it should be targeted and based on priorities, influenced by the results of examining root causes of diseases and accidents as well as assessing risks facing organizations.
Rostam Esmaeili, Ahmad Ali Babaei, Ghazaleh Monazami Tehrani,
Volume 11, Issue 2 (6-2021)
Abstract
Introduction: Each country needs to preserve its human capital through preventing accidents for its development. Therefore, this study is carried out to study the relationship between safety investments and safety performance indices considering the interactive effect of the project hazard level in construction industry.
Material and Methods: This study was conducted using multiple case studies in 5 major construction worksites, in Tehran, in 2019. Data was collected using questionnaire, checklists and interview as well as evaluating the safety documents. The data analysis in this study was carried out using SPSS 18.
Results: There was a strong inverse correlation between safety investments (total safety investment, basic safety investment, and voluntary safety investment) and accident frequency rate (AFR) (r=-0.936, P-value<0.05), and there was a direct strong correlation between safety investment and safety performance (P-value<0.05, r=0.939). Also, the effect of various safety investments on safety performance indices under various project conditions (project hazard levels) was not the same; when the project hazard level was high, the effect of safety investments on safety performance was higher.
Conclusion: Increasing safety investment improves safety performance through decreasing the accidents. Also, investment in both safety components (basic safety investment and voluntary safety investment) might improve safety performance. The results of the current study can be used as a basis by the contractors and construction companies to invest in safety and to determine proper budget for managing safety of construction projects.
