Cost Benefit Analysis - Essay Example

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Cost Benefit Analysis

[Refer to Appendix B]
It was found, by the 1999 survey statistics in a table entitled "Extent of Flame Damage by Major Property Use, 1999, Structure Fire Reported to U.S. Fire Department" that in just the area of residential properties of only one and two family dwelling houses that:
Table 6.2:Loss per Fire in One and Two-Family Dwellings, by Extent of Flame Damage Annual Average of 1989-1998 Structure Fire Reported to U.S. Fire Department [National estimates based on NFIRS and NFPA Survey]
These are fires reported to the U S. municipal department and therefore exclude fire reported only to Federal or state agencies or industrial fire brigades. Fire in which the extent of flame damage was unknown or not reported have been allocated proportionately among fires with known extent of flame damage. Property damage figures have not been adjusted for inflation. Fires are rounded to the nearest ten and property damage is rounded to nearest hundred dollars. Sums may not equal total due rounding errors.
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Cost benefit analysis is an important procedure in promoting fire safety apparatus for city and government officials in an effort to reduce both property and human casualties. There is extensive data on this information via the United States/ North America, but is limited in other sources such as UK and Bahrain, as different countries are regulated in different ways…
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