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Cost Benefit Analysis - Essay Example

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Cost benefit analysis is an important procedure in promoting fire safety apparatus for city and government officials in an effort to reduce both property and human casualties. There is extensive data on this information via the United States/ North America, but is limited in other sources such as UK and Bahrain, as different countries are regulated in different ways…
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Cost Benefit Analysis
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It was found, by the 1999 survey statistics in a table entitled "Extent of Flame Damage by Major Property Use, 1999, Structure Fire Reported to U.S. Fire Department" that in just the area of residential properties of only one and two family dwelling houses that:
Table 6.2:Loss per Fire in One and Two-Family Dwellings, by Extent of Flame Damage Annual Average of 1989-1998 Structure Fire Reported to U.S. Fire Department [National estimates based on NFIRS and NFPA Survey]
These are fires reported to the U S. municipal department and therefore exclude fire reported only to Federal or state agencies or industrial fire brigades. Fire in which the extent of flame damage was unknown or not reported have been allocated proportionately among fires with known extent of flame damage. Property damage figures have not been adjusted for inflation. Fires are rounded to the nearest ten and property damage is rounded to nearest hundred dollars. Sums may not equal total due rounding errors.
There are defin
There are definite cost benefits for properties that can be as a direct result of fire sprinkler installation, but, what is the cost benefit analysis with respect to saving lives The NFPA has kept statistics on large loss-of-life incidents for the last decade and has found that:
NFPA has no record of a fire killing more than two people in a completely sprinklered building where the system was properly operating, except in an explosion or flash fire or where industrial fire brigade members or employees were killed during fire suppression operations. (NFPA, 2003)
The following table shows that figure in a clearer scale:
Table 6.1: Estimated Reduction in 1999 Civilian Death per Thousand Fires Due to Sprinklers, in Property Classes [National estimates based on 1999 NFIRS and NFPA Survey]
Date reported in Version 4.1 as sprinkler status unknown was converted to no-sprinkler. It was necessary to use pre-1999 data to estimate what fraction of the 1999 fires coded as non-sprinkler really were no sprinkler. The conversion of data reported in Version 4 converted all fire where sprinklers operated to other/unclassified. It was necessary to use pre-1999 data to estimate what fraction of the 1999 fires coded as other operation were really sprinkler operated.
These are fire .reported to U S. municipal fire department and so exclude fire reported only to Federal or state agencies or industrial fire brigades. Fire statistics do not include proportional shares of fires with sprinkler status unknown or unreported. Fires are estimated to the nearest hundred. Sums may not equal total due rounding errors. Total includes fires in properties without high occupancy, such manufacturing and storage properties.
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