Chapter 16

Cost-Benefit Analysis of Safety Measures

G. Reniers1,2,3, L. Talarico1,  and N. Paltrinieri4,5     1University of Antwerp, Antwerp, Belgium     2KU Leuven, Brussels, Belgium     3Delft University of Technology, Delft, The Netherlands     4Norwegian University of Science and Technology (NTNU), Trondheim, Norway     5SINTEF Technology and Society, Trondheim, Norway

Abstract

In this chapter an innovative approach is described to evaluate investments in safety measures under an economics perspective. By accurate risk and safety assessment it is possible to assign costs and benefits to a safety measure. In this way, the foundation of robust and long-sighted risk and safety analysis can be built for operational safety within any organization. ...

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