Assessing exposure control strategy cost-effectiveness.
The cost-effectiveness analysis method discussed compares the cost of various control strategies for achieving a desired level of exposure. Such analysis can provide management with additional data upon which to make decisions relative to exposure control programs. Cost-effectiveness analysis does not assess the benefit of the level to be achieved--such as an OSHA PEL or internal company standard--but the costs of achieving the level. The method utilizes discounted cash flow analysis on incremental control strategy investments and expenses to compare the costs associated with various achievable and effective exposure mitigation utilizing engineering, administrative, work practice, personal protection controls or a combination of such approaches for economic efficiency. To determine process-life costs of exposure control, the method evaluates capital investments, annual expenses, taxes, inflation, cost of money and revenues. An additional feature of the method is its ability to help fine tune investments for a given strategy maximizing the level of employee protection achieved while minimizing expenditures.
Birkner
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Salzman
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D003362:Cost-Benefit Analysis; D004781:Environmental Exposure; D006801:Humans; D009787:Occupational Medicine / Q000191:economics*; D012449:Safety; D014481:United States