The Feasibility of Quantitatively Analyzing Investments in Loss Prevention Activities
Final technical rept.
FACTORY MUTUAL RESEARCH CORP NORWOOD MA
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The intent of this study effort was to determine the feasibility of designing a fire risk management system. The available information was determined to be far less than optimal but adequate to formulate a first generation methodology of fire risk management. The existing boundary conditions were defined to be Limited funds are available for fire protection Fire protection competes directly with operations activities for funding. The methodology developed does not ask for more fire protection money. It does, however, provide a mechanism for optimal spending of the money available. The application of such a system, over the long term, could demonstrate that Fire Protection can keep its own house in order and is worthy of dominant interest funding. In addition, it would provide a funding rationale self-defense to explain why some sites incurring fire loss were purposely not funded or funded only to a limited level of protection.
- Administration and Management
- Safety Engineering