UD CIEG 486 - Safety and Risk Management (6 pages)

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Safety and Risk Management



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Safety and Risk Management

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Pages:
6
School:
University of Delaware
Course:
Cieg 486 - Engineering Project Management
Engineering Project Management Documents

Unformatted text preview:

Safety and Risk Management Construction by nature is inherently dangerous with a high degree of hazard and risk The toll of construction accidents is high in terms of both costs and human suffering Accidents add a tremendous burden of needless and avoidable expense Financial loses pale when compared to bodily injury and death and the resulting human social impacts Safety and Risk Management Construction accidents add 10 billion annually to construction cost Insurance such as workmen compensation can be purchased to protect the contractor from certain direct expenses Accidents also involve substantial costs that are not insurable referred to as hidden or indirect cost Safety and Risk Management Economic considerations Direct costs Medical Compensation Indirect or hidden costs Time lost from work by the injured party Loss in earning power Economic loss to injured worker s family Lost time by fellow workers Safety and Risk Management Economic considerations Indirect or hidden costs continued Loss of efficiency by breaking up crew Cost to train new or replacement employees Damage to equipment and tools Loss of production Cost incurred by delays Failure to meet contract demands completion etc Overhead costs associated with disruption of work Safety and Risk Management Economic considerations Indirect or hidden costs continued Cleanup and repair costs Administrative costs of investigations and reports Increased insurance premiums Loss of future projects due to adverse publicity Cost of fines Many many others difficult to quantify Safety and Risk Management Accidents are defined as events occurring by chance from unknown causes In reality construction accidents are the result of negligence needless avoidable Safety and Risk Management As construction managers we must concern ourselves with the issues of safety for several reasons 1 Legal obligations imposed by OSHA 2 Contract requirements 3 Direct and indirect financial impact profit picture 4 Corporate personal legal



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