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Risk Assessment: When Safety Overrides Costs

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To rent or buy decisions are often made through risk assessment. In this strategy, the decision to buy or not to buy equipment depends on the foreseen risk of not having the equipment available when needed. Of course, budget will still be taken into consideration but in this technique, it may not always used as the deciding factor. Risk assessment often focuses on the urgency of having the equipment now and avoid bigger problems which are often about major company losses, health and safety. 

Aside from budget concerns, you should also consider safety when deciding on investing in
electrical test equipment. Imagine not having a circuit breaker test set you can use to conduct timely tests on your circuit breakers. This can put your system at risk of circuit overload which may lead to electrical fires. This isn’t just a safety concern but also an investment risk, especially when you need to replace equipment and make up for downtime.

Risk Assessment is one of the most effective ways to determine whether or not you need to buy equipment. If you need high voltage test equipment and other maintenance devices, Protec is a trusted renting service you can depend on. Contact us for more information on our services.