Published works

The CRC project Cost-effective mitigation strategy development for building related earthquake risk is seeking to address the need for an evidence base to inform decision making on the mitigation of the earthquake risk posed by vulnerable Australian buildings. It aims to develop information related to more vulnerable Australian building types in the following areas:-

• retrofit strategy options for high risk buildings to reduce their vulnerability;
• the current and retrofitted performance of these buildings;
• the cost of implementing the retrofit strategies; and,
• the ability to assess the benefit of avoided societal costs through the implementation of these strategies.

This report describes progress made against the last component which undertook some trial runs to estimate business income loss and rental income loss and provided a complete work plan for estimating direct health care cost.

The economic loss modelling approach aims to encompass the information needs of a range of decision makers. These view benefits through different “lenses” and at differing scales. For this research they include:-

• Building owners.
• Owners of both the building and business.
• Local Government for a business precinct.
• Jurisdictional and Federal Governments and their additional interest in economic loss associated with health care and lost productivity.

This report presents the methodological progress in estimating the proprietary and wage/salary income loss due to business interruption, direct health care costs and the casualty costs to society due to injury and loss of life in the context of the forthcoming Melbourne city case study. The report corresponds with the 30 June 2019 project milestone deliverable “Reporting on Economic Evaluation of Mitigation Strategies and Building Level”.