Budgeting for Machine Safety in 2022
June 19, 2024
Budgeting for Machine Safety in 2022
As anyone in business knows, creating and sticking to a budget is essential for the financial health of the company. But when it comes to industrial machine safety, budgeting is especially vital.
Industrial machinery can be extremely dangerous. This means you must spend time and money preventing foreseeable injury, as well as responding to the unexpected.
At Stronghold Safety Engineering, we understand how daunting it can be to develop a workable safety budget. In this article, our safety engineers discuss why these are so important, and how you can simplify the task.
Budgeting for Machine Safety in 3 Simple Steps
When it comes to budgeting for machine safety, there are a few key things that you must consider. First, you must assess the machine guarding required for operating the machinery in your production line.
What are the potential hazards? What could happen if something went wrong? Once those risks have been identified, you can then begin to put together a realistic budget for addressing them.
So, how can you do this without exhausting yourself? In three steps:
Identify Relevant OSHA Machine Safety Standards
Determine the Needs of Your Industrial Safety Plan
Always Over-Budget for Industrial Machine Safety
Identify Relevant OSHA Machine Safety Standards
Conducting a risk reduction consultation identifies hazards, as well as any areas of your operations that may not comply with relevant OSHA standards. If you remain in compliance with OSHA regulations and industry best practices, then you minimize the risk of financial liability later.
As you can imagine, this stabilizes your budget against preventable revenue losses.
Determine the Needs of Your Industrial Safety Plan
Now that you’ve reviewed your machine guarding needs, and identified applicable safety standards, you’re better prepared for determining the specifics.
Do you require physical safeguarding solutions, electrical safeguarding devices, or fall protection equipment? Now is the time to budget for these investments.
Always Over-Budget for Industrial Machine Safety
In our opinion, when it comes to machine safety — and industrial safety in general — it pays to be proactive. That’s what it means to conduct assessments and review industry standards.
To that end, we suggest that you over-budget for safety to guarantee that you’re never left ill-prepared for any situation. Perhaps an unexpected interruption in your supply chain necessitates a change in your processes.
This could require a new assessment, and maybe, a few new solutions. Stockpile your resources now, and respond decisively later.
Develop a Realistic Safety Budget with Stronghold Safety
Budgeting for machine safety is an important part of any business’s overall risk management strategy. By taking the time to assess risks and develop a realistic budget, businesses can protect their employees, equipment, and bottom line.
No matter what approach is taken, it’s vital that you work with experienced safety professionals. This ensures that your budget is adequately projected, and that your chosen approach is effective.
At Stronghold Safety Engineering, we have more than 15 years of experience in this industry, and we’ve worked with a diverse range of businesses. To find the perfect safety strategy for your budget, reach out to our team today.