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Slide 16

Slide 16


  • Type: Text Slide with Background Photo and Images
  • Content:
    • Direct - Insured Costs, "Just the tip of the iceberg" [Includes background photo of iceberg and clipart image of sinking ship with caption that reads "Unseen costs can sink the ship!".] Indirect - Uninsured, hidden Costs - Out of pocket Examples
      1. Time lost from work by injured employee.
      2. Lost time by fellow employees.
      3. Loss of efficiency due to break-up of crew.
      4. Lost time by supervisor.
      5. Training costs for new/replacement workers.
      6. Damage to tools and equipment.
      7. Time damage equipment is out of service.
      8. Loss of production for remainder of the day.
      9. Damage from accident: fire, water, chemical, explosives, etc.
      10. Failure to fill orders/meet deadlines.
      11. Overhead costs while work was disrupted.
      12. Other miscellaneous costs (Over 100 other items of cost may appear one or more times with every accident)
      13. Others? _________________________________
      Unknown Costs -
      1. Human Tragedy
      2. Morale
      3. Reputation
      Speaker Notes:
      • Important to consider both Direct and Indirect Costs
      • You tend to forget about indirect costs because they are difficult to measure - but they can run between 2 to 6 times your direct costs
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