FrogReaver
As long as i get to be the frog
So let's start off examining the situation where the party is at full hp and resources and an ally gets hit. You are either going to choose to prevent that damage now or deal more damage to the enemy next turn. The assumption for this scenario is that all you care about is efficiency.
You need to know or estimate your chance that 1d8+int damage would make a difference in killing the enemy a round earlier. Labeling this A
You need to know or estimate the chance the enemy hits again before it dies. Labeling this B
You need to know the damage the enemy does on a hit. Labeling this C
If Min(1d8+int, C) > A*B*C. A typical scenario might have B = 60%. C = 20 Average Damage. Then for this scenario if Min(1d8+int, C)/12 > A the damage prevention is better. In short your chance that 1d8+int damage makes a difference in killing the enemy a round earlier has to be very high OR the monsters DPR has to be very high before we ever approach the territory where it might be more resource efficient to do the damage over the damage prevention.
You need to know or estimate your chance that 1d8+int damage would make a difference in killing the enemy a round earlier. Labeling this A
You need to know or estimate the chance the enemy hits again before it dies. Labeling this B
You need to know the damage the enemy does on a hit. Labeling this C
If Min(1d8+int, C) > A*B*C. A typical scenario might have B = 60%. C = 20 Average Damage. Then for this scenario if Min(1d8+int, C)/12 > A the damage prevention is better. In short your chance that 1d8+int damage makes a difference in killing the enemy a round earlier has to be very high OR the monsters DPR has to be very high before we ever approach the territory where it might be more resource efficient to do the damage over the damage prevention.