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20 April, 2018

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Free tool calculates ROI on safety investments

27 January, 2012

Rockwell Automation developed a tool that calculates the potential annual return from investing in integrated safety automation systems. The free Web-based tool, developed with the US machine safety consultant, JB Titus, helps to quantify potential savings and productivity gains from new investments in safety.

“An upfront investment in safety programmes and safeguarding systems can help to  reduce significantly the financial and employee impact of incidents in a manufacturing facility,” says Mark Eitzman, Rockwell’s safety market development manager. “Still, engineers and plant managers have struggled to accurately cost-justify investments in safety. With the new Safety ROI Tool, they can calculate the costs of an incident and see the financial benefits of implementing a proactive safety programme.”

At its core, the tool relies on a basic calculation: benefits divided by costs equals ROI (return on investment). To help simplify the previously complicated process of assessing those costs and benefits, the tool combines injury and productivity data and collects user data in five categories: project costs; overall equipment effectiveness; capital-asset depreciation; direct injury costs, such as medical expenses; and indirect injury costs, such as fines and repair costs.

The tool, which is available via Rockwell’s Safety Resource Center, is optimised for use on smartphones and tablet PCs. The company aims to update it continuously and plans to add a category for quality improvement.




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