You are employed as an OHS advisor for a large public hospital. A proposal has recently been submitted for the refurbishment of a $50,000 of a work area designed to reduce the development of musculoskeletal disorders and accidents. Management has commented that they'd like to see a cost benefit analysis before considering the program. Discuss the following:

1. What approach you would take to prepare your analysis (what data would you need to collect?).

2. Describe how you would present your analysis (to determine whether this refurbishment is beneficial to the organisation or not).

3. Could your calculation of benefits be affected by factors of externality and discounting? Explain.