In my opinion the main types of costs that should be determined include: productivity costs, medical costs, quality of life losses and administration and insurance costs.
Though it depends on you, but as you have a multi decision factors I recommend you to use MODM or MADM methods. It will give you some detailed results.
TRyan these: For the individual worker it is the sum of anticipated 'lifetime' earning stream discounted by an average interest rate to get an estimate of reparations. You can look at insurance settlements or civil court cases in your area to see the custom.
For an accident, it is the sum of all workers affected.
For the environment it is the estimated cost of replacing or restoring the productive capacity destroyed (plus workers losses)
For society, it is the opportunity cost of not doing the next "Needed" activity because funds to repair all damages above are diverted and not available.
ONE can also add a multiplier factor to the calculation as the economy would contract thereby not contributing to all other incomes.
First, it depends on whether you are taking the perspective of society, the employer, the worker, the government, or the health care system. From society's & worker perspectives, your list is reasonably good but should exclude insurance costs (those double-count the losses). For societal & employer perspectives, need to add emergency services (police, fire & ambulance), employer costs (workplace disruption, incident investigation, rehiring, etc. -- see Rikhardsson et al. Corporate cost of occupational accidents: an activity-based analysis, Accident Analysis & Prevention, 2004.) as well as the costs of property damage/loss (think of a jack-knifed tractor-trailer that was carrying tomatoes or eggs to market) and production delays (think of an explosion inside a manufacturing plant or a fire that destroyed the IT servers). I include prosthetics, wheelchairs, etc in medical costs but health insurance may not count such medical devices - or home modifications, specialized transportation. Costs to the employer focus on insurance expenditures (Worker's Comp (medical, disability, rehab and retraining), disability, life) and sick leave rather than the actual medical costs and productivity losses -- plus the employer & property damage costs, liability costs when employees injury others & the employee was on-the-clock or in a company vehicle or had been drinking at a company-sanctioned event , costs of lost reputation in major events (Union Carbide after Bhopal, the airline that folded after a crash in Florida), taxes paid to fund government payments related to the injury. Employer costs also include insurance, leave, and disruption costs for worker injuries when the worker is not on duty, especially if the employer providers health insurance for the employee & the employee's spouse & children. Plus there is the cost of reduced productivity when injured workers are temporarily reassigned to restricted duty tasks rather than out on leave.
The Cost of illness method is quite useful to measure those type of costs. There is a lot of litereature about cost of illness, for example, try reading "International guidelines for estimating the costs of substance abuse" by Single et al. (2003).
Dear Peter,
As an example please find attached article which could be useful for your purpose.
Rgds
Article Explanation of the“Strategic Assessment Model” and verificat...
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