2012
DOI: 10.1061/(asce)co.1943-7862.0000496
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Cost-Benefit Analysis for Accident Prevention in Construction Projects

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Cited by 66 publications
(31 citation statements)
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“…As it was expected, none of the small contractors has developed a SHMS. This may be explained by the fact that small contractors spend on safety a higher proportion of their profits than medium and large size contractors do [3]. 85% of the companies with no SHMS have less than 2 projects per year while 62% of the companies with a SHMS have more than 5 projects yearly.…”
Section: Safety and Health Management System (Shms)mentioning
confidence: 97%
See 1 more Smart Citation
“…As it was expected, none of the small contractors has developed a SHMS. This may be explained by the fact that small contractors spend on safety a higher proportion of their profits than medium and large size contractors do [3]. 85% of the companies with no SHMS have less than 2 projects per year while 62% of the companies with a SHMS have more than 5 projects yearly.…”
Section: Safety and Health Management System (Shms)mentioning
confidence: 97%
“…In order to remedy for this situation, safety measures and programs have been introduced and have even become required by law in some countries. In fact, a cost-benefit analysis of accident prevention conducted by Ikpe and et al showed that the benefits of accident prevention outweigh the costs of accidents by a ratio of 3:1 [3].…”
Section: Introductionmentioning
confidence: 99%
“…Note that the model was developed based on the assumption that, even for acceptable or tolerable levels of risk, there are still margins for financial gain in increasing the level of safety. Potential savings were estimated between $ 4-8 for every dollar invested in preventive measures, in the U.S. (Barrie and Paulson, 1992), and of £ 3 for every pound invested in preventive measures, in the U.K. (Ikpe et al, 2012). The amount of savings depends largely on the size of the project, since the cost percentage of implementing occupational safety and health measures is inversely proportional to the value of the project, ranging from around 0.3% to 3.7% and of its total cost (Baxendale and Jones, 2000).…”
Section: Model Implementationmentioning
confidence: 99%
“…Sample size was determined through the formula S = X 2 NP(1-P) / d 2 (N-1) + X 2 P(1-P) (Akinyode & Khan, 2013;Ankrah, 2007;Baba, 2013;Eichenberger, Hulliger, & Potterat, 2011;Ikpe, 2009;Krejcie & Morgan, 1970). S indicates required sampled size, X 2 indicates table value of the Chi-square for 1 degree of freedom at the desired 0.95 confidence level which is 3.841 (1.96 x 1.96) and N designates population size.…”
Section: Sample Sizementioning
confidence: 99%