Cost Considerations
An additional basis for utilizing a good key management system is the cost consideration. Lost keys cost organizations, institutions, and government more than $35 billion per year according to some studies. The cost of lost or misplaced keys results from time spent searching for keys and/or their holders, as well as the costs of replacing locks, cylinders, and keys, not to mention staff time and management time resolving lost key issues.
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“Each is under the most sacred obligation not to squander the material committed to him, not to sap his strength in folly and vice, and to see at the least that he delivers a product worthy the labor and cost which have been expended on him.”
—Anna Julia Cooper (1859–1964)