The Feasibility of Quantitatively Analyzing Investments in Loss Prevention Activities
Abstract
The intent of this study effort was to determine the feasibility of designing a fire risk management system. The available information was determined to be far less than optimal but adequate to formulate a first generation methodology of fire risk management. The existing boundary conditions were defined to be: Limited funds are available for fire protection; Fire protection competes directly with operations activities for funding. The methodology developed does not ask for more fire protection money. It does, however, provide a mechanism for optimal spending of the money available. The application of such a system, over the long term, could demonstrate that Fire Protection can keep its own house in order and is worthy of dominant interest funding. In addition, it would provide a funding rationale (self-defense) to explain why some sites incurring fire loss were purposely not funded or funded only to a limited level of protection.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 01, 1971
- Accession Number
- AD0730525
Entities
People
- Lawrence M. Krasner
- Myron J. Miller
- Steve A. Wiener