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Context 1. ... preventing accidents is the best management strategy in reducing accidents costs [42]. Figure 1 provides a graphical representation of the Iceberg Model of Accident Costs....
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Context 1. ... preventing accidents is the best management...
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- Accident cost iceberg (Bird 1974).
The iceberg shows that the proportion of hidden costs could...
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The iceberg shows that the proportion of hidden costs could be much larger than the cost directly related to the accident [6, 23]. While the direct cost can be estimated based on the...
Annual accidents cost in the construction industry is very high. The cost can be characterised as ‘accident iceberg’. The tip of the iceberg reveals visible an tangible costs. The submerged bulk of the iceberg harbours a great many hidden and often indeterminate financial implications.
Bird (1974) presents the so-called iceberg theory of incident costs. In an exhibit that suggests an ice-berg and is captioned The Real Costs of Accidents Can Be Measured and Controlled, Bird illustrates his ratios of insured and uninsured costs. Bird and Germain (1985) use these same ratios but add to
Context 1. ... preventing accidents is the best management strategy in reducing accidents costs [42]. Figure 1 provides a graphical representation of the Iceberg Model of Accident Costs....
Incident Cost Iceberg 1 unit PROPERTY DAMAGE 4 Incident investigation 4.1 Who should investigate? Employers have a responsibility to investigate as part of their management of safety. The person leading the investigation should have sufficient authority to implement immediate preventive actions
There are many hidden, unrecoverable costs associated with an accident that are much greater in magnitude than most people realise. Looked at another way, there are substantial, unseen savings built-in to accident prevention activities.
