Cost of a life.
Every safety related industry now calculates the cost of saving a life.
This should not frighten anyone. Every time you or I get into a car, we are making the decision that we are prepared to accept the risk of a fatal accident (which sadly is all too high). We do the same when we fly.
Unfortunately money is not endless. So in order to properly focus investment, we have to have some reference to what is 'cost-effective'. It sounds gruesome, but we all know that there will never be enough money to make railways, cars, or even aircraft 100% safe. So we need a mechanism to make the best decision possible.
No need to panic...the approach has worked pretty well up to now. And I speak as someone works in an industry which uses the approach.
Last edited by NWSRG; 26th Apr 2004 at 22:56.