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Loss Analysis

Some type of accident investigation is part of almost every safety program, yet the purpose for doing investigations is often poorly understood. As result, they can turn into finger pointing, blame passing exercises that seldom determine the actual causes for
what happened and thus seldom arrive at any effective solutions to the problem involved.

The result of an accident is a loss and the most common and obvious losses are harm to people and property damage. Other forms of related losses are loss of process, equipment and environmental damage and profit reduction.

Once the event has occurred, the type and degree of loss are somewhat a matter of chance and sometimes good fortune plays a significant role. The end result may range from insignificant to catastrophic, from a minor scratch to a critical injury or loss of a building. The degree and type of loss depend partly on the circumstances and partly on the controls or action taken to minimize the loss.

Whether or not people are injured, accidents do cost money and thus a loss has
occurred.

Sample Loss Analysis Report

 

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