tailieunhanh - Research and Markets Project Management_6

Tham khảo tài liệu 'research and markets project management_6', khoa học xã hội, kinh tế chính trị phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 198 MEASURING THE INTANGIBLES Consider for example a health care chain that is considering a new risk management procedure that would reduce the likelihood of acts of infant abduction. Although the infant may not be killed during the act of abduction assumptions must be made about such costs. To conduct this type of analysis the probability of infant abduction without the risk management procedure is compared to the probability of infant abduction with the procedure in place based on assumptions made by those who understand such processes well. The cost of the risk management procedure which would be accounted for as an extra direct expense is known. What must be identified to make the estimate complete is the cost of an abduction. Previous liability claims can be reviewed to estimate what it would cost the hospital should an abduction occur based on the value of the human life. When this is known it is a matter of using the ROI methodology to determine whether the risk management procedure is economically justified. To some this would seem absurd and no amount of money would be considered too great to prevent the abduction or even the death of an infant. However organizations have limits on what they can afford and are willing to pay. As with many intangibles this one generates others. For example loss of life not only generates pain and suffering for the family but can also lower morale and can even tarnish the image of an organization. For example the energy company British Petroleum BP saw its stock price nose-dive when unsafe conditions led to fatalities. BP s safety record was among the worst in the industry. After an explosion on an oil platform investors grew alarmed and began to sell shares. This obviously was an image problem that spooked investors. A damaged public image is an expensive intangible that can generate other economic impacts as well. In summary human life is considered an intangible primarily because of the perceived difficulty of placing a