Reporting and investigating incidents, injuries and property damage are a central part of any safety management system. However, many organizations are reluctant to expand their reporting and investigation processes to encompass near misses, fearing that doing so will overwhelm safety teams and lead to inflated safety spending; all for something that that did not result in an accident, injury or property damage. This paper will define a near miss and will discuss why near miss reporting and investigation are critical parts of any world-class safety program.