Though there have been reports on the cost or benefit impacts of safety improvement projects,
few studies have provided detailed information on the exact costs and benefits. This fact implies that a lot of difficulties still need to be overcome in assessing the exact costs and benefits for safety improvement projects in the workplace. Furthermore, some safety improvement projects might result in invisible or less-tangible benefits, which are hard to translate into crisp economic values. Establishing a
fuzzy cost-effectiveness assessment methodology is therefore investigated in this study to quantify the economic worth of a safety project. Firstly, the possible costs and benefits associated with a safety improvement project are identified and classified. Then the contingent valuation method (CVM) is fuzzified by applying the fuzzy Delphi method to collect the less-tangible benefits represented by several linguistic terms. Finally, the fuzzy-valued return-on-investment (FROI) of the safety
improvement project can be obtained. A real case is adopted for demonstrating the practicability of the proposed methodology.
Asian Journal of Health and Information Sciences 1(3):321-331