PASSPORT TO SAFETY

In today’s marketplace, you have to think globally. That is where functional safety can help

FUNCTIONAL SAFETY BOOSTS PROFITS
The overall objective of functional safety is to protect workers by reducing incidents and to reduce risk of loss and costs associated with risk. Cost of risk is the sum of insurance premiums, claims administration fees, workers’ compensation claims, risk management department costs (salary, travel, fringe benefits, and so on), legal fees, and other related costs such as state fees, assessments and consultants. Cost of risk expenses are measurable direct costs.

WHAT DOES FUNCTIONAL SAFETY MEAN TO YOU?
Functional safety benefits users by cutting costs, but not reducing safety. It provides them with a high safety/failure ratio so that they can maximise both production and safety. 

Using functional safety and its applicable standards requires the availability of data such as probability of dangerous failure per hour (PFHd) or mean time to dangerous failure (MTTFd). This adds the time domain because functional safety allows you to calculate the reliability of your safety system. This should not be regarded as an absolute and certain value but more as an indicative and relative quantification that can prevent the use of unsuitable equipment.