Volume 15, Issue 6 (2-2019)                   ioh 2019, 15(6): 48-59 | Back to browse issues page

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Vatani J, Farhadi Hassankiadeh R, Faghihnia Torshizi Y. The new structure of economic evaluation Health, Safety and Environment - Management System (HSE-MS) approach to estimate the cost of accident human . ioh. 2019; 15 (6) :48-59
URL: http://ioh.iums.ac.ir/article-1-2083-en.html
Department of Occupational Health, health school, Guilan University of Medical Sciences, Rasht, Iran , jvatani@gmail.com
Abstract:   (1191 Views)

Background and aims: Today, the growth of high technology industry faces us to some problems like air pollution, work-related accidents and occupational diseases which make it necessary to use a HSE-MS management system in different projects. However, the implementation of this system need to spend some money and time, so because of the reduced of cost trend in some managers, they regardless of do that or do it imperfect.
Methods: In this paper, the value of the flow of the investment process in the HSE-MS system in the form of fuzzy numbers, using the method of return on capital investment (IRR) method, evaluated the economics of this investment under fuzzy environments. Also, this paper describes how to calculate the cost of accidents, how to calculate the amount of investment in the HSE-MS system, introducing the IRR method, introducing the theory of fuzzy sets, how to calculate fuzzy IRR, and finally, we describe the proposed method. The calculations are analyzed using the @RISK software.
Results: As you can see, the financial process resulting from the implementation of the HSE-MS management system is both economic and financially based on the FIRR method and the use of the @RISK software and implies the need for the implementation of a safety management system from an economic point of view. In other words, the average return on capital employed in the financial process resulting from the implementation of the HSE-MS management system, according to the IRR method, is almost 22%, much higher than the average market rate of 5%, and strongly emphasizes the economic nature of this financial process.
Conclusion: According to the findings of the recent study, Internal Rate of Return is between 14% and 18%, and is more than the market rate (7%). So it’s indicating that the investment in the aforementioned sector is very profitable and leads to returning capital over the next few years will be. In the other hand, investment in the safety, health and environmental sectors in addition to decreasing the risks of decreasing the job and thus reducing occupational accidents and job satisfaction leads to the profitability of projects.
 

Full-Text [PDF 1316 kb]   (419 Downloads)    
Type of Study: Research | Subject: HSE
Received: 2017/09/12 | Accepted: 2019/01/28 | Published: 2019/04/16

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