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34   Chapter Three




























                                  FIGURE 3.3 Safety–cost curves.



                                     Without any doubt we could lower the residual risk by increasing
                                  the financial investment in protective measures. Safety would accord-
                                  ingly increase as a function of the cost C of the PMs, following the
                                  safety–cost curves diagrammatically shown in Fig. 3.3, relative to dif-
                                  ferent pieces of equipment (i.e., equipment 1 to 4).
                                     It can be noticed that if we do not apply any protective measure to
                                  theelectricalitem(i.e.,C =0),theresultingsafetyagainstelectricshock
                                  is at its minimum value S 0 , which may be unacceptable (e.g., S 04 for
                                  the item of curve 4 in Fig. 3.3). The safety–cost curves asymptotically
                                  approach the absolute safety, equal to 1, when the cost of protective
                                  measures approaches infinity. In reality, the cost of safety must be
                                  a finite value, and criteria are necessary to determine the optimum
                                  investment to realize it.
                                     One criterion consists of determining the maximum cost C 1 for the
                                  PMs that we are willing to tolerate to face the value k 1 v 1 characteristic
                                  of the equipment being analyzed. We can then find on the curve the
                                  resultant value of S 1 that the item has achieved (e.g., Fig. 3.3; vertical
                                  line to curve 3). If the magnitude of S 1 satisfactorily lowers r(t), we
                                  deem the equipment safe.
                                     Itisimportanttonotethattheproductk 1 v 1 forapieceofequipment
                                  may increase with time to the value k 2 v 2 > k 1 v 1 , for example, if we
                                  move it from ordinary locations to restrictive locations. In that case,
                                  a superior cost C 2 may be necessary to compensate the larger value
                                  k 2 v 2 through a higher S 2 (Fig. 3.3).
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