This book describes how to make economic decisions regading safety in the chemical and process industries.
- Covers both technical risk assessment and economic aspects of safety decision-making
- Suitable for both academic researchers and practitioners in industry
- Addresses cost-benefit analysis for safety investments
In summary, the purpose of Operational Safety Economics: A Practical Approach Focused on the Chemical and Process Industries is to investigate the complexity of operational risk with respect to economic issues and considerations from a single organization perspective, to provide dimensions and definitions that encompass and describe topics in operational safety economic topics. A variety of theories and methods for dealing with economic analyses in an organizational environment are thus addressed. To accomplish this purpose, previous work in the field is revisited, studied and discussed, and new ideas and innovative theories are conceptualized and debated. In the end, the objective is to clarify the economics surrounding operational safety and, where possible, to provide techniques useful for addressing operational safety decision-making while considering economic issues. There are no final answers, only some clues and paths to follow to where and how such answers might be obtained by a company’s safety manager.
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