A Mathematical Approach to Perception of Safety as Investment Rather than Accident Prevention Only
The need for enhanced worker's productivity and establishment's profitability demand innovations in
occupational health and safety management. Most safety programme economic evaluation tools place emphasis on benefit of
compliance. In this study, the concept of investment safety was proposed and associated simulation model for its
implementation was developed using system dynamics methodology. Monetary saving/loss in the implementation of the
safety strategy were used as the performance measure and a case of establishment with organized safety programme was
used for demonstration.
Keywords - Investment safety, Monetary savings/lost, Safety Management, Safety Strategy.