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Understanding the return on health, safety and environmental investments
1ORC Worldwide, Suite 810, 1800 K Street, NW, Washington, DC 20006, 202-293-2980, United States. Linhard@ORC-DC.com
Introduction:
Traditionally, health safety and environmental (HS & E) investments have been viewed as expensive but necessary. HS & E professionals had a difficult task of providing data showing that these investments can also contribute to business success. An ORC task force developed a way for traditional financial analysis methods to be applied to HS & E investments and decisions.
Method:
The result of the task force effort is the software called the ORC Return on Health, Safety and Environmental Investments (ROHSEI), a supporting tool to provide a comprehensive look at health, safety or environmental investment projects and their potential financial impacts.
Results:
Since its development, more than 200 companies, government agencies, and educational institutions have been trained in the ROHSEI process and software.
Conclusions:
HS & E professionals who are able to evaluate and communicate the business value of health, safety and environmental efforts will improve understanding of the impacts HS & E projects and contribute to better decision making by their organizations.
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