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Question 772 July 2012


Evaluating safety benefits of new projects vrs costs

We are interested to know about any formal processes/tools/methodologies for evaluating the safety benefits of new projects, particularly in relation to the cost/benefit aspect.

The context is that as part of our processes for engaging with our external stakeholders, we are looking at how we can improve the transparency of our decision making processes and the evidence and evaluations we have used and made. In particular we are interested to see how the safety benefits are evaluated and quantified, including in terms of proportionality (e.g. how, when and if cost doesn’t outweigh benefit) and urgency of action.

 
 

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