Abstract
When safety practitioners contemplate the construction of safety arguments, there is often the requirement to establish a financial measure of various accident severity classes so that cost-benefit analysis can take place on proposed mitigation efforts. Very often the method of establishing costs utilises the UK Government Department for Transport (DfT) determined benefit value for the prevention of a fatality in a road traffic accident. This is used as a marker for the accident class relating to a single fatality and a fatality accident, with a series of other values used that are based on a logarithmic to the base 10 scale. Studies and reports discussing costs and values associated with accidents have been researched and appear to indicate that the almost blind use of the DfT valuation across diverse industry systems may not be fully appropriate [e.g. 3, 4]. This paper discusses the use of the DfT value of a prevented fatality as a value for cost-benefit analysis in various industries, compares cost components of accidents in those industries, and offers guidance in determining appropriate values for analysis of proposed mitigation efforts.
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Published on 01/01/2008
Volume 2008, 2008
DOI: 10.1049/cp:20070475
Licence: CC BY-NC-SA license
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