TY - GEN
T1 - Economic impact of safety improvement by a rotation-controllable tower-crane hook block
AU - Lee, Chijoo
AU - Lee, Ghang
PY - 2019/1/1
Y1 - 2019/1/1
N2 - 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.
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.
UR - http://www.scopus.com/inward/record.url?scp=85069849807&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85069849807&partnerID=8YFLogxK
M3 - Conference contribution
T3 - EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering
BT - EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering
A2 - Tizani, Walid
PB - Nottingham
T2 - 17th International Workshop on Intelligent Computing in Engineering, EG-ICE 2010
Y2 - 30 June 2010 through 2 July 2010
ER -