Abstract
The term "safety" has become widespread, but since it is a big idea, it may result hard to grasp.
In managing safety, the focus is often on accidents and incidents, however, serious events are infrequent and with them the occasions to learn. Learning focuses on everyday events can take place continuously rather than being a reaction to a single serious event.
The aim has been to raise awareness of all our people and to provide them with tangible measurements of safety in absence of incidents.
In this work it has been detailed a method to quantify monetary returns associated to the continuous identification, analysis and evaluation of risk and relevant controls, based on the fact that management is traditionally focused on financial goals and therefore more inclined to understand such sort of a language.
Thus, it has been considered what a return on investment looks like in safety for transport operations.
Based on evidences collected from our Business Units, a business case was developed where a disruption occurred in the operating activities due to some issues (i.e. downtime, return to base…) that could have been prevented by incurring a particular investment; in other few cases simulations were run based on missed opportunity costs.
Whilst in other domains this tool is quite easy to use, when incorporated into transport safety it becomes much more difficult because of the number of elements that may be affected. Any investment into safety should eventually reduce risk, whether through technology or process improvements with the consequence of reducing post-occurrence expenses.
The cost efficiency of safety management was also confirmed in more quantifiable terms through interviews with logistic managers responsible for decisions on transport management.
With such objective evidence, the budgeting allocation process will be supporting safety as a worthwhile investment, not only in general but also for specific safety measures.
