Financial Costs of Construction Accidents and the Role of Quantity Surveyor in Safety Investment

2493 WordsApr 17, 201210 Pages
Financial Costs of Construction Accidents and the Role of Quantity Surveyor in Safety Investment Zulaila Binti Ramlan Universiti Teknologi Mara ella261281@yahoo.com Hasni Binti Hasan Universiti Teknologi Mara hasnihasan69@yahoo.com Wan Norlidawani Binti Wan Hassan Universiti Teknologi Mara lida_wani@yahoo.com ABSTRACT Keywords: financial cost, construction accidents, quantity surveyor, safety investment 1. Introduction Traditionally, cost, quality and time have constituted the parameters within with projects have been managed (John Smallwood & Theo Haupt, 2005). Although some speakers were quite vociferous about attributing onsite H&S deficiencies to design failings – with designers arguing that…show more content…
Direct cost tend to be those associated with the treatment of the injury and any unique compensation offered to workers as a consequence of being injured and are covered by workmen’s compensation insurance premiums. Indirect costs which are borne by contractors include reduced productivity for both the returned worker(s) and the crew or workforce; clean up costs; replacement costs; cost resulting from delays; supervision costs; cost related to rescheduling; transportation, and wages paid while the injured is idle (Hinze, 1994). Recent research conducted in the United Kingdom (UK) determined indirect costs to be 11 times the direct costs 11:1 (Health & Safety Executive, 1997). Research conducted in South Africa determined the indirect cost to be 14.2 times the direct costs (Smallwood, 2000). Research conducted in the United States of America indicates the total cost of accidents to constitute, inter alia, 6.5% of the value of completed construction (The Business Roundtable, 1995) and in the UK approximately 8.5% of tender price (Anderson, 1997). However, the issue relative to the COA is that ultimately clients incur the cost thereof. Given that designers are concerned with the optimization of value they should endeavour to contribute to efforts to mitigate accidents. Financial cost of construction accidents represent the losses incurred by the private investors, such as contractors, due to the occurrence of

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