Economic impact of safety improvement by a rotation-controllable tower-crane hook block

Chijoo Lee; Ghang Lee

Economic impact of safety improvement by a rotation-controllable tower-crane hook block

Department of Architecture and Architectural Engineering

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

The rotation-controllable tower-crane hook block is the automated construction equipment able to rotate a steel beam in a horizontal direction. This paper estimates the economic impact of safety improvement when this equipment is deployed at construction fields. An analysis on industrial accidents shows that accidents related to steel structures make up 4.78% of total building construction accidents. This paper employed real discount rate and present worth of annuity (PWA) assessments to convert future cash flow into present worth. For this, the economic benefits were analyzed by including a reduction in the accident rate compared with manufacturing costs. The cost-benefit ratio was 1.142, demonstrating the economic feasibility of the equipment. In addition, sensitivity and qualitative benefits analyses were conducted.

Original language	English
Title of host publication	EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering
Editors	Walid Tizani
Publisher	Nottingham
ISBN (Electronic)	9781907284601
Publication status	Published - 2019 Jan 1
Event	17th International Workshop on Intelligent Computing in Engineering, EG-ICE 2010 - Nottingham, United Kingdom Duration: 2010 Jun 30 → 2010 Jul 2

Publication series

Name	EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering

Conference

Conference	17th International Workshop on Intelligent Computing in Engineering, EG-ICE 2010
Country	United Kingdom
City	Nottingham
Period	10/6/30 → 10/7/2

All Science Journal Classification (ASJC) codes

Computer Science Applications
Engineering(all)

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Lee, C., & Lee, G. (2019). Economic impact of safety improvement by a rotation-controllable tower-crane hook block. In W. Tizani (Ed.), EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering (EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering). Nottingham.

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abstract = "The rotation-controllable tower-crane hook block is the automated construction equipment able to rotate a steel beam in a horizontal direction. This paper estimates the economic impact of safety improvement when this equipment is deployed at construction fields. An analysis on industrial accidents shows that accidents related to steel structures make up 4.78% of total building construction accidents. This paper employed real discount rate and present worth of annuity (PWA) assessments to convert future cash flow into present worth. For this, the economic benefits were analyzed by including a reduction in the accident rate compared with manufacturing costs. The cost-benefit ratio was 1.142, demonstrating the economic feasibility of the equipment. In addition, sensitivity and qualitative benefits analyses were conducted.",

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Lee, C & Lee, G 2019, Economic impact of safety improvement by a rotation-controllable tower-crane hook block. in W Tizani (ed.), EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering. EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering, Nottingham, 17th International Workshop on Intelligent Computing in Engineering, EG-ICE 2010, Nottingham, United Kingdom, 10/6/30.

Economic impact of safety improvement by a rotation-controllable tower-crane hook block. / Lee, Chijoo; Lee, Ghang.

EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering. ed. / Walid Tizani. Nottingham, 2019. (EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

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AB - The rotation-controllable tower-crane hook block is the automated construction equipment able to rotate a steel beam in a horizontal direction. This paper estimates the economic impact of safety improvement when this equipment is deployed at construction fields. An analysis on industrial accidents shows that accidents related to steel structures make up 4.78% of total building construction accidents. This paper employed real discount rate and present worth of annuity (PWA) assessments to convert future cash flow into present worth. For this, the economic benefits were analyzed by including a reduction in the accident rate compared with manufacturing costs. The cost-benefit ratio was 1.142, demonstrating the economic feasibility of the equipment. In addition, sensitivity and qualitative benefits analyses were conducted.

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