Ruegg, R T and Fuller, S K (1985) The economics of fire protection: Fast-response residential sprinklers. Construction Management and Economics, 3(1), pp. 43-57. ISSN 01446193
Abstract
This paper develops and applies in selected cases a benefit-cost model for evaluating the economic efficiency of providing fire loss mitigation through the use of a newly adapted technology: fast-response, residential sprinkler systems. The model calculates present value net benefits as they would accrue to the owner of a system. The nine selected hypothetical cases pertain to new, single-family dwellings in the United States. The cases assume an 'average' level of fire risk to the homeowner as indicated by recent. US aggregate fire loss statistics, and sprinkler system effectiveness based on the results of laboratory and field tests. Break-even values are calculated for key decision variables. The model can be used to evaluate the economic efficiency of home sprinkler investments under alternative conditions. The results that are presented here, though based on hypothetical cases, have implications of interest to members of the research and building communities who are concerned about the economics of home fire protection.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | economic analysis; fire protection; life-cycle costing; net benefit analysis; risk-benefit analysis; sprinkler systems |
| Index terms: | economic analysis, field test, mitigation, cost model, homeowner, United States, laboratory, costing, statistics, building community, owner, aggregate, efficiency, system effectiveness |
| Subjects: | materials science, community and social dimensions, data collection methods, mathematical modelling, financial and cost management, design analysis, Geography, financial risk, accounting and finance, performance management, research management, sociology, assessment methods |
| Topics: | Quality Management, Design Practice, Stakeholder Management, Engineering Principles, Information Management, Research Practice, Geographical Context, Cost Management |
| Descriptive scope: | 3 PCA |
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