Decision-makings in safety investment: An opportunity cost perspective

Ma, Yanhong; Zhao, Qiuhong; Xi, Menghao

doi:10.1016/j.ssci.2015.11.008

Cited by 44 publications

(36 citation statements)

References 25 publications

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“…Moreover, it is worth noting that the factor of ensuring the investment of the safety measures (F23) ranked fourth in the identified 24 factors. It is generally recognized that insufficient safety investment is the immediate cause of accidents [ 62 ]. Therefore, safety investment should be strengthened to guarantee safety procedures and a safe operating environment [ 61 ].…”

Section: Discussionmentioning

confidence: 99%

Using Interpretative Structural Modeling to Identify Critical Success Factors for Safety Management in Subway Construction: A China Study

Liu

Bian

et al. 2018

IJERPH

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With the rapid development of urbanization in China, a vast number of subway projects are under construction and planned in many cities. However, the complexities of the environment in subway construction inherently bring about many uncertainties and risk factors. Understanding the inherent properties of the critical success factors (CSFs) will contribute significantly to the subway construction. From this perspective, this paper aims to identify the CSFs for safety management in subway construction. This study screened preliminary CSFs through a literature review and in-depth interviews with experts in China. Based on the data gathered and subsequently analyzed from the questionnaire surveys, a final total of 24 CSFs were identified. Then, interpretative structural modeling was employed to ascertain the interrelations among them. The result showed that the factors concerning the engineering survey and design not only occupy relatively higher scores in the questionnaire survey but also contribute significantly latent impacts on other factors. In addition, the creation of a reasonable schedule and the investment of the safety measures were also found to have a fundamental impact on the safety management of subway construction. This research guided the safety managers in determining the most important safety factors they must face and provided them valuable information that could promote safety performance and decrease the number of accidents over the course of subway construction.

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Section: Discussionmentioning

confidence: 99%

Using Interpretative Structural Modeling to Identify Critical Success Factors for Safety Management in Subway Construction: A China Study

Liu

Bian

et al. 2018

IJERPH

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“…In addition, the majority of management factors such as regulations and rules (C14) and safety investment (C12) are at the deepest hierarchy of the mode, meaning these factors contribute significantly latent impacts on other dimension factors. It is generally recognized that the improper regulation system and the insufficient safety investment is the immediate cause of the accidents [42]. The intangible factors are significant contributors to the safety operation of rail transit system [30].…”

Section: Discussionmentioning

confidence: 99%

Using an AHP-ISM Based Method to Study the Vulnerability Factors of Urban Rail Transit System

et al. 2017

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Abstract:As a sustainable means of public transportation, urban rail transit system undergoes rapid expansion in China. How to provide a safe and reliable service has been the subject of growing attention in this context. However, such work is challenging because rail transit systems are quite vulnerable and influenced by a set of interacting factors. Studying these vulnerability factors will contribute significantly to the operation of rail transit system. From this perspective, this paper made an exploration of the vulnerability factors based on an integrated method consisting of AHP (Analytical Hierarchy Process) and ISM (Interpretative Structural Modeling). Based on literature review, 21 vulnerability factors were identified. Subsequently, expert elicitation was employed to ascertain the importance of each factor and the interrelations among them. The results suggest that management and individual factors have the highest importance weights and the interrelations among vulnerability factors could be expressed as a five-layer structure, in which management factors were inclined to be at the lower level. The research provides valuable information for decision makers to take proactive strategies and reinforcement policies to guarantee safety operation of urban rail transit system and ensure urban public safety, which could promote the sustainable development of cities.

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“…López-Alonso et al ( 2013 ) propose that an inverse relationship exists between the average number of accidents and the cost of accident prevention, also known as safety investment. More specifically, safety investment decisions are made based on the number of possible accidents that may occur during future decision stages (Ma et al 2016 ). Generally, more potential accidents indicate that more safety investments are needed for accident prevention.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Government distributes its resources, such as human and financial resources, to many regulation activities. Because of the uncertainty of the accidents, safety investment made in advance may be less than what is actually needed for accidents prevention (Ma et al 2016 ). Moreover, it is not easy to show a causal and quantifiable relationship between safety investments and overall public safety improvements (Miller et al 2000 ).…”

Section: Literature Reviewmentioning

confidence: 99%

“…On the other hand, higher safety investment from the government is likely to result in lower rate of accidents. However, simply expending government investment is not the solution due to the opportunity costs (Ma et al 2016 ). Therefore, a suitable approach should be developed to help these managers estimate the public safety inputs–outputs and make better decisions (Azadeh et al 2017 ).…”

Section: Conclusion Managerial Implications and Limitationsmentioning

confidence: 99%

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China’s regional public safety efficiency: a data envelopment analysis approach

Zou

Lin

et al. 2020

Ann Reg Sci

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This study develops a comprehensive public safety efficiency index that includes the inputs and outputs of regional public safety. The DEA-BC 2 model was used to measure the technical efficiency (TE), pure technical efficiency (PTE), and scale efficiency (SE) of public safety at 31 province-level administrative divisions (regions) in China from 2014 to 2018, and to analyze the effectiveness of public safety in each year. The findings indicate that the average TE, PTE, and SE of all regions from 2014 and 2018 were mostly redundant and ineffective. The average Malmquist index continued to decline, with the lack of technological progress identified as the main hindering factor. The public safety efficiency of 31 regions was affected by the technical progress change, pure technical efficiency change, and scale efficiency change at different periods. The findings suggest that all regions should improve the public safety inputs, better allocate various input elements and utilize public safety resources more effectively.

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Decision-makings in safety investment: An opportunity cost perspective

Cited by 44 publications

References 25 publications

Using Interpretative Structural Modeling to Identify Critical Success Factors for Safety Management in Subway Construction: A China Study

Using Interpretative Structural Modeling to Identify Critical Success Factors for Safety Management in Subway Construction: A China Study

Using an AHP-ISM Based Method to Study the Vulnerability Factors of Urban Rail Transit System

China’s regional public safety efficiency: a data envelopment analysis approach

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