Health & Safety

Judging how much investment to make in health or safety differs from other investment and expenditure decisions. The healthcare consumer will always prefer – if not expect – unlimited resources to be available. The regulatory and legal systems define the levels of safety at work and in the public domain. In several areas, for example health and transport, much of the investment is provided by the public sector. Yet valuing the real benefits of safety investment and the relative returns on alternative strategies can be difficult, especially if the actions of the noncompliant and foolish need to be considered.

Oxford Risk can bring some of the world’s leading academics and researchers to projects that require the assessment and analysis of market and non-market costs and benefits. Using scientific methodologies, we can survey public opinion to give values to people’s willingness to pay for higher probabilities of a better quality of life.  We can help organisations to build compelling arguments and incorporate this information into decision and investment models. We can also advise on how the Oxford Risk Rating can be used to recruit and select people who are most appropriate for specific roles – for example, determining which train drivers are less likely to pass signals at red, or which applicants for medical training are more likely to make good decisions about treatment.