9 steps for ensuring improved health, safety, and productivity
Capital expenditures (known as capex) are long-term investments made by businesses and organisations to generate revenue or provide services over an extended period. These investments often include purchasing or constructing fixed assets such as land, buildings, equipment, or vehicles, which can produce significant amounts of noise.
To plan and manage these expenses, many organisations create capex budgets that include the cost of industrial noise control solutions.
What is a capex budget?
A capex budget is a financial plan outlining the spending on long-term assets or investments a business or organisation will make over a specified period. It includes:
- The estimated cost of each asset or investment
- The expected useful life of each asset, and
- The expected benefits derived from each investment.
With a capex budget, businesses can plan for and manage the cost of long-term investments – including industrial noise control solutions.
Why include industrial noise control solutions in your capex budget?
Industrial noise control solutions can provide many benefits for businesses and organisations, including:
Compliance with regulations
Many industries have noise regulations that organisations must comply with to avoid fines and legal action.
Improved health and safety
Exposure to excessive noise levels can lead to hearing loss, stress, and other health issues. Industrial noise control solutions can reduce the risk of these issues and create a safer, healthier workplace.
Increased productivity
Excessive noise can be a distraction and reduce productivity. Industrial noise control solutions can create a quieter and more productive work environment.
Better communication
Excessive noise can make it difficult to communicate effectively. Industrial noise control solutions help to improve communication and collaboration between employees.
How to include industrial noise control solutions in your capex budget
To include industrial noise control solutions in your capex budget, be sure to:
1) Identify noise sources in your workplace, such as machinery, equipment, or vehicles.
2) Assess noise levels produced by each source to determine if they exceed regulatory limits or create a risk to employee health and safety.
3) Determine appropriate noise control solutions for each noise source, such as sound barriers, acoustic enclosures, or vibration-damping materials.
4) Estimate the cost of each noise control solution, including installation costs and any ongoing maintenance costs.
5) Prioritise investment in noise control solutions based on their potential impact on regulatory compliance, employee health and safety, productivity, and communication.
6) Allocate budget for each noise control solution based on their priority level and estimated cost. Ensure that the budget allocated is feasible and can be covered by the overall Capex budget.
7) Plan the implementation of each noise control solution, including timelines and any necessary downtime for installation.
8) Monitor progress of each noise control solution to ensure that they are effective and meet its intended goals.
9) Adjust the budget if necessary for each noise control solution, based on their actual cost and effectiveness.
Contact the industrial noise control experts: Flexshield
By including industrial noise control solutions in your capex budget, you can ensure that your organisation complies with noise regulations, provides a safe and healthy work environment, and promotes productivity and effective communication.
If you would like more information about any of our products, call 1300 799 969 or contact us online.
