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Related Experiment Videos

The potential-method--an economic evaluation tool.

Monica Bergström1

  • 1Finnish Institute of Occupational Health, Finland. monica.bergstrom@ttl.fi

Journal of Safety Research
|July 20, 2005
PubMed
Summary
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This study introduces the Potential, an economic analysis tool to measure safety and health impacts on production. It offers a more efficient method for assessing these crucial business factors.

Area of Science:

  • Occupational Health and Safety
  • Economics
  • Production Management

Background:

  • Quantifying the impact of safety and health on production is challenging.
  • Existing methods for economic analysis in this area are often complex and data-intensive.

Purpose of the Study:

  • To introduce the Potential, a novel instrument for economic analysis.
  • To provide a more effective method for gauging safety and health's influence on production.

Main Methods:

  • The Potential instrument integrates various conditional changes for economic analysis.
  • This method requires significantly less input while analyzing over 300 variables.

Main Results:

  • The Potential serves as a valuable indicator for the effects of safety and health initiatives.

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  • Despite inherent challenges in such calculations, this method demonstrates strong performance.

    • Conclusions:

    • Organizations can leverage the Potential to demonstrate the financial benefits of safety and health programs.
    • The study highlights a positive business case for investing in workplace safety and health.