Rockwell Provides Safety Calculator Tool

Tuesday, January 03, 2012

New Calculator Tool Provides Return-on-Investment Estimates for Safety Automation. Free Safety ROI Tool from Rockwell Automation quantifies savings and productivity gains to help cost-justify safety investments

 

Engineers, plant managers and environmental health and safety (EH&S) professionals now have a tool to calculate the potential annual return they’ll receive if they invest in an integrated safety automation system. Rockwell Automation developed the free Safety Return on Investment (ROI) Tool with J.B. Titus, a machine safety consultant and owner of J.B. Titus & Associates. The new Web-based tool, launched on Nov. 14 at the annual Rockwell Automation Safety Automation Forum, addresses manufacturers’ need for a tool to help quantify potential savings and productivity gains from new investments in safety. 


“An upfront investment in safety programs and safeguarding systems can help significantly reduce the financial and employee impact of incidents in a manufacturing facility,” said Mark Eitzman, safety market development manager, Rockwell Automation. “Still, engineers, plant managers and EH&S professionals 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 program.” At its core, the Safety ROI Tool relies on a basic calculation: benefits divided by costs equals ROI. To help simplify the previously complicated process of assessing those costs and benefits, the tool combines injury and productivity data and collects input from users in five categories:

 
• Estimated project amount, i.e., cost of controls, software, installation and training.
• Overall equipment effectiveness, based on increases in machine availability because of reduced unscheduled downtime and increases in manufacturing output.
• Increased capital-asset depreciation.
• Direct injury costs, such as medical expenses, wages and worker’s compensation costs.
• Indirect injury costs, e.g., regulatory noncompliance fines and repair costs.

The tool also allows users to adjust the ratio of indirect-to-direct injury costs from 1:1 to 14:1, or to enter zeros for indirect and direct injury costs, based on company requirements. Rockwell Automation aims to continuously update the tool to keep it relevant for users and plans to add a category for quality improvement. “Machine safety is fast becoming a core function of an automation system that delivers significant business and economic value while boosting productivity and the bottom line,” said J.B. Titus, machine safety consultant and owner, J.B. Titus and Associates. “The ROI Tool is easy to use and quickly delivers credible proof that safety investments can help protect workers and yield financial benefits.”

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

Davie Building LNG-powered Ferries

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under

Keppel FELS to Deliver 100th Jackup Rig

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) is on track to deliver PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO),

New Products

More Floating Accommodation for Lerwick

An accommodation ship, the SNAV Toscana is due at Lerwick on or around 6 March 2015 to supplement the floating accommodation at the port. Formerly operated as an Italian ferry,

NMM lines up Box Buy

Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration,

Philly Tankers Lines Up Charters

Philly Tankers AS announced today that its wholly owned U.S. subsidiary, Philly Tankers LLC, has entered into binding long-term time charter contracts with a domestic end-user for the two 50,

Maritime Safety

Container Ship Runs Aground at Fremantle Port

A ship that ran aground at Fremantle Port early Saturday has been refloated. The 62,000-tonne Denmark-registered container ship Maersk Garonne became stuck in soft sand about 500m off South Mole.

Drowning at Castaway Cay

Police are investigating the apparent drowning of an American cruise ship passenger off at Disney’s private island in the Bahamas - Castaway Cay in the Abacos.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

People in the News

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2725 sec (4 req/sec)