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Q. What is the importance of investigation of incidents?
1. Incident investigation is the process of identifying the underlying causes of incidents and implementing steps to prevent similar events from occurring
2. Incident investigation is to learn from past experiences and to avoid repeating past mistakes
3. Events which result in or could have resulted in serious consequences are usually investigated
4. Team members for investigation are selected on the basis of their training, knowledge and ability to contribute for the investigation. The investigation process should deal with all involved individuals in a fair and open manner
5. The focus of investigation should be to obtain facts, and not to place blame.
An asset needed by the ABC Corp. can be purchased for $100,000. Maintenance and other ownership expenses will total $20,000 each year for the asset's expected 10-year life. On the
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