Cost-benefit analysis in fire safety engineering

state-of-the-art and reference methodology

Ruben Van Coile (Author), Andrea Lucherini (Author), Ranjit Kumar Chaudhary (Author), Shuna Ni (Author), David Unobe (Author), Thomas Gernay (Author)

Abstract

Cost-effectiveness is a key consideration within fire safety engineering. Currently, different approaches are being applied in literature. These approaches differ in how cost-effectiveness is evaluated, which costs are considered, and how the preferred design solution is defined. Recognizing this issue, the Fire Protection Research Foundation enrolled an international team of researchers, supported by a broad stakeholder panel, to develop a reference methodology. In this paper, this reference methodology for cost-benefit analysis in fire safety engineering is presented following an extensive literature review. The methodology clarifies the minimum requirements for assessing cost-effectiveness, and highlights that only a present net value evaluation can be used to compare design alternatives. Commonly used cost-benefit ratios should only be used when deciding on the effectiveness of a single package of fire safety measures. An illustrative case study demonstrates the application of the meth- odology and shows how designs based on cost-benefit ratios can be sub-optimal when evaluating multiple possible fire safety measures.

Keywords

analiza stroškov in koristi;požarna varnost;naložba;vzdrževanje;izguba;statistika;zanesljivost;cost-benefit analysis;fire safety;investment;maintenance;loss;statistics;reliability;

Data

Language:	English
Year of publishing:	2023
Typology:	1.01 - Original Scientific Article
Organization:	ZAG - Slovenian National Building and Civil Engineering Institute
Publisher:	Elsevier
UDC:	62
COBISS:	166057475
ISSN:	1879-1042
Views:	21
Downloads:	2
Average score:	0 (0 votes)
Metadata:

Other data

Secondary language:	Slovenian
Secondary keywords:	analiza stroškov in koristi;požarna varnost;naložba;vzdrževanje;izguba;statistika;zanesljivost;
Embargo end date (OpenAIRE):	2026-09-26
Pages:	10 str.
Issue:	ǂVol. ǂ168, [article no.] 106326
Chronology:	Dec. 2023
DOI:	10.1016/j.ssci.2023.106326
ID:	20433082