Impact of Accident on Infrastructure Development Project
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India is fast developing country and Infrastructure development is the key indicator for development. Accordingly, there are many infrastructure projects in progress across India specifically Roads & Highways, Coastal Infrastructure, and other infrastructural developments. Infrastructure development projects are carried out with high-risk activities and in hazardous environments. Even though all critical risk analysis is being done at the beginning of the project, while actual execution with all safety measures some lapses like manual errors, mechanical failures may happen. These lapses may lead / experiences accidents of various levels of severity, some causing minor and major injuries with even some resulting in fatality. These Occupational accidents in the infra development projects can have negative detrimental effects directly on project execution, as they can result in loss of productivity, delay the project, low staff morale, loss of reputation, decrease market value and risk to business sustainability.
Following a workplace accident, companies often look at the immediate cause and strive to guarantee that this component of the business is resolved, allowing work operations to resume as usual. More organisations should go deeper into the root /core causes, considering the impact of the disaster as well as any avoidable expenditures.
A prevalent misperception is that all workplace accidents — and their associated expenses – are insurance-recoverable. This is frequently assumed, yet that is not the case. The insurance company only pays about one-fifth of what an accident can cost of company. They will pay for the Direct Costs like medical bills, prescription drug costs, a portion of the injured workers lost wages. The expenses paid as a result of accident at work are commonly referred to as the \”iceberg effect\”: visible costs that are recoverable, but costs concealed below the waterline that are unrecoverable.
Direct Costs
- Medical, hospital and rehabilitation expenses
- Worker’s compensation payments, and
- Higher insurance premiums or even loss of insurability
- Top management are exposed to rigorous legal issues.
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- Lost Time:
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- Productivity:
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- Incident Investigation and Reporting:
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- Staffing Issues:
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- Damage Business Reputation:
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- Policies and Procedures –
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- Risk Management –
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- Control Measures –
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- Awareness Training –
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- Regular inspections –
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- Supervision –