Safety Costs Calculator 2015-08-12

The Safety Costs Calculator is adapted from Cost of Poor Quality calculators.

It is used to build the figure for costs a mishap would incur, and enter it into the Safety FMEA to help drive strategic decision making. The calculator is built to recognize that personnel costs in a single event vary but need to be added in order to understand the value of lowering incident rates.

Costs to reduce hazards can be compared against projected manpower savings in order to help managers make informed decisions and recognize the impacts of their actions.