Industrial engineering

Costs of accidents

Costs of accidents
The occurrence of any accident will cause both direct and indirect costs. It is important that all of these costs are taken into account when the full cost of an accident is calculated. Different studies shown that indirect costs or hidden costs could be more than 30 times greater than direct costs of an accident. In other words, the direct costs of an accident or disease represent the tip of the iceberg when compared to the overall costs.
Direct costs
These are costs that are directly related to the accident and may be insured or uninsured.
Insured direct costs, normally include:
  • claims on employers and public liability insurance
  • damage to buildings, equipment or vehicles
  • any attributable production and/or general business loss.
Uninsured direct costs, normally include:
  • fines resulting from prosecution by the enforcement authority
  • sick pay
  • some damage to product, equipment, vehicles or process not directly attributable to the accident (e.g. caused by replacement staff)
  • increases in insurance premiums resulting from the accident
  • any compensation not covered by the insurance policy due to an excess agreed between the employer and the insurance company
  • legal representation following any compensation claim.
Indirect costs
Indirect costs are costs which may not be directly attributable to the accident but may result from a series of accidents.
Insured indirect costs, typically include:
  • a cumulative business loss
  • product or process liability claims
  • recruitment of certain replacement staff.
Uninsured indirect costs, can include:
  • loss of goodwill and a poor corporate image
  • accident investigation time and any subsequent remedial action required
  • production delays
  • extra overtime payments
  • lost time for other employees, who attend to the needs of the injured person
  • the recruitment and training of most replacement staff
  • additional administration time incurred
  • lower employee morale possibly leading to reduced productivity
Some of the items mentioned above, such as business loss, may be uninsurable or too prohibitively because of the big amount of money required.
Industrial engineering

Key elements of health and safety management

Key elements of health and safety management
The key elements for effective health and safety management are similar to those considered in good quality, finance and general business management. The principles of good and effective management provide a sound basis for the improvement of health and safety performance. The key elements involved in a successful health and safety management system are:
  • Policy
  • Organizing
  • Planning and Implementing
  • Measuring performance
  • Reviewing performance
  • Auditing
A clear health and safety policy is essential for business efficiency and continuous improvement throughout the operation. The policy should state the decision of the organization in terms of clear aims, objectives and targets.
A well-defined organization is an essential component of a positive health and safety culture. An effective organization will be noted for good staff involvement and participation, high quality communications, the promotion of competency, and the empowerment and commitment of all employees to make informed contributions.
Planning and implementing
An effective health and safety plan involves the setting and implementation of performance standards, targets and procedures. The plan is based on risk assessment methods in order to set priorities and objectives for the effective control or elimination hazards and the reduction of risks. Measuring success requires the establishment of practical plans and performance targets against which achievements can be identified.

 Measuring performance
Include both active and reactive monitoring to see the effectivity of the health and safety management system. Active monitoring involves looking at the premises, the people, procedures and systems. Reactive monitoring discovers through investigation of accidents and incidents why controls have failed. Measure the organization against its own long term goals and objectives is also important.
Reviewing performance
The results of monitoring should be systematically reviewed to evaluate the performance of the management system against the objectives and targets established by the health and safety policy. Comparisons should be made with internal performance indicators and if it is possible with external performance indicators of similar organizations.
Commercial Real Estate Property

How New York City Realty Progress In 2019?

How New York City Realty Progress In 2019?

BackGround Of New York City

New York City is one of the finest city of the United States of America. It is the most populated city also known as international city. New York City has international presence because of many United Nations institutions are operating from this city. It is known as the city of cultural, financial and media capital of the world famous organization includes politics, tourism, entertainments, education, arts, fashion, sports and business. New York City is divided in five boroughs namely Brooklyn, Queens, Manhattan, The Bronx, and Staten Island. New York City is the most diverse city culturally as as there are 800 languages spoken in the city.

New York City Residential Real Estate

New York City is the hub of international activities in different sectors of the life. World the most famous organizations and business operates from New York City. New York is home to the highest number of billionaires of any city in the world. Real Estate is the main industry in many cities. As in New York city real estate is one of the most explosive factor in the city economy. According to different reports of survey New York City is property worth is US$1. 07 trillion.The most expensive property in the city the sales and purchases of of offices. New York City is home to some of the nation’s and the world’s most valuable real estate. 450 Park Avenue was sold on July 2, 2007 for US$510 million, about $1,589 per square foot ($17,104/m²), breaking the barely month-old record for an American office building of $1,476 per square foot ($15,887/m²) set in the June 2007 sale of 660 Madison Avenue.

How To Find Properties In New York City

The advancement of the technology has changed the way to find properties in the world. It is very easy to find properties in new York city. The popular source to find properties in the city is different websites. There are different kinds of websites it includes brokers or realtors websites which operate privately. There are famous websites, namely “”,, ““,” and CityRealty.cometc are the most famous among all. People use these websites to find new properties both residential and commercial.

How New York City Real Estate For Investment

According to the,The NYC real estate  just come out from recession and it considers a safer for investment.However,it does not consider the best market for real estate investment at the moments.Moreover, predicted home values in NYC 3.3% in 2017.

What Is The Worth Of New York City Real Estate

The worth of  New York City real estate  is in 1.74 trillion of dollars$$$.

Commercial Real Estate Property

What Mean By"For Sale By Owner"In Realty?

What Mean By”For Sale By Owner”In Realty?

The Concept Of For Sale By Owner(FSBO) In Realty

In real estate “The process of selling and buying properties without the representation of real estate professionals called FSBO. For Sale By Owner is a common concept in different parts of the world. However, It’s really hard to complete where countries are very key about laws of properties includes taxes. Because every individual is unaware about property laws and procedures. Sale by owner is a tough concept because it takes time to understand and get knowledge of selling.Selling requires expertises and knowledge of the market and ways of marketing to get clients or buyers first and then the knowledge of tax and legal paperwork.However, little mistake in the process of completion can make a big loss for seller or buyers. Moreover, FSBO only helpful for saving money while it’s a time consuming process and bit risky if understanding is not good.

What Tasks FSBO requires to complete the process of sell&buy?

For sale by owner where the owners are willing to sell and buy properties their own needs step by step point to complete the task quickly without wasting time.

1) Knowledge of Property

Owner needs to understand the value of property in the areas where He/SHe want to buy or sale the properties. Knowledge includes the prices of property and people demand. It requires time to get more knowledge of market and it need to research. Realtors and internet i.e. real estate websites and social media iare the best way to find right things. Moreover, Properties taxes and knowledge of transfering the properties is also necessary to understand.

(2) Marketing for FBSO

To sell a property second thing need to do is marketing and advertisement of the product. Marketing is a wide term to market a product. However, For FSBO have limited choices to market their products because marketing need budgets and for individual when they have a single property for do not show willing to spend for such expensive marketing tools. Usually Owner use banner on the property gate for sale and it is a time consuming process because clients do not know about banners.

3) Ways of Marketing Property

i) The Use Of Banner

FSBO only market their property without any cost with the help of banners and it cost few dollars. It is the cheapest way to sell properties however, It takes time or months to sell it.

ii)  The Use Of Newspaper

It’s a bit useful sources of marketing and cheaper to advertise. However, the usage, electronic media and social media makes this medium importance less in modern marketing. Moreover, In the United Kingdom, Australia, Europe, Canada and America where the printing press is still popular people use to read newspapers, magazines and leaflets etc.

iii) Websites For FBSO

Websites are very popular in the modern world and people like to use in different parts of the world.There are many websites specifically for properties buy, sale and rent purposes. i.e. Gumtree, Trovit, Rightmove, Olx, Zameen, Realla, Zillow Redfin, just property, Propertyfinder, DAMAAC, justmovein, Makaan commonfloor, Juwai, Caimeiju etc. are the popular in different parts of the world for marketing. However, all these websites charge for listings. 

(4) Documentation For FBSO

Once an owner or FSBO finds a customer for his/her properties, then the owners need to get deep understanding to complete the paperwork. It includes different kind of properties taxes, transfer charges of properties and allocation of property.