Unit 2 Element 1: Construction law and management

1.2 The legal, moral and financial consequences of failing to manage health and safety

• Unit 2: Managing and controlling hazards in construction activities
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• > 1.2 The legal, moral and financial consequences of failing to manage health ...

Financial concerns

Failures in health and safety management during construction projects can incur both direct and indirect costs. These may be thought of as 'financial costs' or the direct cost of putting things right, and the 'opportunity costs' or indirect costs to the business, as illustrated below.

Financial costs

Lost
production

Opportunity costs

The HSE website has recent case studies showing the financial benefits of effective health and safety management, including some from the construction industry:
www.hse.gov.uk/business/case-studies.htm