HFE Cost-Benefits

Carrying out HFE activities can help to reduce these costs by identifying and addressing human factors problems before they occur.

In general, the costs of carrying out HFE activities are typically small compared to the potential costs of human factors problems.

Carrying out HFE activities early in the development lifecycle is more cost-effective than carrying out HFE activities later in the program.

The earlier HFE activities are carried out, the more opportunities there are to identify and address human factors problems. Additionally, by identifying and addressing human factors problems early in the development lifecycle, the costs of resolving the problems are typically lower than if the problems were identified later in the program. Therefore, HFE activities carried out early in the development lifecycle can help to reduce overall costs and improve performance and safety over the lifecycle of the product or asset.

There is some evidence to suggest that the cost-benefit ratio of HFE is positive, meaning that the benefits of HFE outweigh the costs.

One study found that for every dollar invested in HFE, there was an average return on investment of $2.50 to $7.00, depending on the industry. This study looked at a range of industries, including healthcare, transportation, and manufacturing, and found that the return on investment was highest in healthcare and lowest in manufacturing.

Another study found that HFE activities carried out during the development of a new medical device resulted in a cost savings of $8.3 million over the life of the product. This study also found that HFE activities carried out during the development stage resulted in a cost savings of $1.94 for every dollar invested in HFE.

A third study found that HFE activities carried out during the development of an aircraft resulted in a cost savings of $1 billion over the life of the aircraft. This study also found that HFE activities carried out during the development stage resulted in a cost savings of $2.50 for every dollar invested in HFE.