Economics of human performance and systems total ownership cost

    Authors

    W. Onkham; W. Karwowski;T. Z. Ahram

    Comments

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    Abbreviated Journal Title

    Work

    Keywords

    Human Performance Estimation; Human Total Ownership Cost; Public, Environmental & Occupational Health

    Abstract

    Financial costs of investing in people is associated with training, acquisition, recruiting, and resolving human errors have a significant impact on increased total ownership costs. These costs can also affect the exaggerate budgets and delayed schedules. The study of human performance economical assessment in the system acquisition process enhances the visibility of hidden cost drivers which support program management informed decisions. This paper presents the literature review of human total ownership cost (HTOC) and cost impacts on overall system performance. Economic value assessment models such as cost benefit analysis, risk-cost tradeoff analysis, expected value of utility function analysis (EV), growth readiness matrix, multi-attribute utility technique, and multi-regressions model were introduced to reflect the HTOC and human performance-technology tradeoffs in terms of the dollar value. The human total ownership regression model introduces to address the influencing human performance cost component measurement. Results from this study will increase understanding of relevant cost drivers in the system acquisition process over the long term.

    Journal Title

    Work-a Journal of Prevention Assessment & Rehabilitation

    Volume

    41

    Publication Date

    1-1-2012

    Document Type

    Article

    Language

    English

    First Page

    2781

    Last Page

    2788

    WOS Identifier

    WOS:000306361802153

    ISSN

    1051-9815

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