The objective of this note is to adviseon a desired and workable method that can be used to placevalues on accident reduction. The first section of this noteidentifies the need to categorize accidents if accidents areto be valued, and suggests a method of categorization.Following, it identifies the components of cost that make uptotal accident costs, while further sections suggest methodsthat can be used to value casualty related costs, andincident related costs. Other Sections discuss how accidentvaluation may vary between modes, and suggest that accidentvaluations are consistent with those utilized in other Bankprojects (e.g. health projects). Final Sections discuss themanner that accident costs vary with time, and therelationship between the valuation and the accidentprediction m model. The final Section summarizes theprincipal recommendations of the note.