This presentation will review and highlight the previous studies conducted by the presenter on the economic and social benefits of fire prevention activities. The first leg presents the economic benefits of active and passive fire prevention, through regulations, and discretionary prevention, which includes all the activities related to fire prevention programs and fire investigations. The second leg presents the importance of the social benefits of fire prevention, which lead to a reduction in the number of deaths and an increase in the number of evacuees in the case of a residential building fire.
While economic impact studies are not for the faint of heart, this presentation will balance a complex discussion of the theory and practice of economic analyses, the differences between primary, secondary and tertiary sectors, and typical econometric assumptions with a far more relatable and approachable methodology and roadmap to help other fire departments begin to measure and estimate the economic benefit of their own field operations and community risk reduction activities.
In all, the main goal is to value the fundamental role of fire departments as a local and regional economic and social contributor, in which investments give a large return, as opposed to being perceived like a mandatory expense. This also builds the case for any agency to better value their role in the eyes of elected officials and the general public.
Learning Objectives:
Upon completion, participants will be able to explain how investing in a fire department's prevention program helps preserve building value and has social benefits for the community
Upon completion, participants will be able to explain how to develop a narrative, to present such assumptions in front of elected officials and various managers.