The inherent benefits of an accident prevention program are generally known only after an accident has occurred. The purpose of implementation of the program is to minimize the number of accidents and cost of damages. Allocation of resources to implement accident prevention program is vital because it is difficult to estimate the extent of damage caused by an accident. Accurate fatal accident predictions can provide a meaningful data that can be used to implement accident prevention program in order to minimize the cost of accidents. This paper forecast the fatal accidents of factories in India by using Auto-Regressive Integrating Moving Average Method (ARIMA) model. Accident data for the available period 1980 to 2013 was collected from the Labour bureau, Government of India to analyze the long term forecasts. Different diagnostic tests are applied in order to check the adequacy of the fitted models. The results show that ARIMA (0, 0, 1) is suitable model for prediction of fatal injuries. The number of fatal accidents is forecasted for the period 2014 to 2019. These results suggest that the policy makers and the Indian labour ministry must focus attention toward increasing fatal accidents and try to find out the reasons. It is also an opportunity for the policy makers to develop policies which may help in minimizing the number fatal accidents.
Indian real estate segment has been one of the utmost affected segments of economy contemplating the changes in economic policies. The Indian economy experienced a radical change as an outcome of demonetization and the consequences are perceived on the real estate segment. The current study has been proposed to evaluate the efficiency of Indian real estate firms by adopting the technique of data envelopment analysis during the pre- and post-period of demonetization. The aim of the research is to understand the effect of demonetization on the performance of the Indian real estate firms during the post-demonetization period compared to pre-demonetization period. Eight real estate firms have been considered for the analysis. The firms have been ranked on the basis of the efficiency score. It is evident from the results of the study that there is a significant difference between the ranks of the firms during the period of pre and post demonetization; and it can be elucidated that the demonetization has an impact on the performance of the firms.
The construction industry in India is the second most important contributor to its gross domestic product. However, high rate of accidents and fatalities have tarnished the image of industry in India. Although the industry contributes significantly to the Indian economy, safety management is the primary concern alongside with frequent workplace accidents. The role of safety management is vital to improve safety performance of an organization. The functions of safety management include planning, organizing, staffing, directing, controlling and coordinating safety activities with an aim to minimize accidents/injuries. Safety trainings, employee participation, compliance of safety procedures and motivational schemes are part of safety management which influences the overall safety performance. Several metrics were developed to measure the safety performance of an organization but not a single measure will reflect the overall performance. The present study considered parameters pertaining to the safety management which have influence on the safety performance of a construction organization in India. The parameters are analyzed by formulating a goal programming model. The results of the study suggests that much improvement is needed in the area of safety trainings and the revised targets were established.