Abstract
| Original language | English |
|---|---|
| Title of host publication | Proceedings of the IX international conference on Risk analysis and hazard mitigation. Brebbia, C.A. (ed.) |
| Place of Publication | Ashurst, UK |
| Pages | 229-241 |
| DOIs | |
| Publication status | Published - 2014 |
| MoE publication type | A4 Article in a conference publication |
Fingerprint
Keywords
- cost
- benefit
- crisis
- decision-making
- mitigation measure
- economic impact
Cite this
}
Assessing economic impacts of crises : A decision-support approach to long-term strategic planning. / Räikkönen, Minna; Pilli-Sihvola, Karoliina; Kunttu, Susanna; Yliaho, Jussi; Jähi, Markus; Zuccaro, G.; Del Cogliano, D.
Proceedings of the IX international conference on Risk analysis and hazard mitigation. Brebbia, C.A. (ed.). Ashurst, UK, 2014. p. 229-241.Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review
TY - GEN
T1 - Assessing economic impacts of crises
T2 - A decision-support approach to long-term strategic planning
AU - Räikkönen, Minna
AU - Pilli-Sihvola, Karoliina
AU - Kunttu, Susanna
AU - Yliaho, Jussi
AU - Jähi, Markus
AU - Zuccaro, G.
AU - Del Cogliano, D.
N1 - Project code: 72677
PY - 2014
Y1 - 2014
N2 - The assessment of economic impacts of crises and risk reduction generated by different mitigation measures is a multidimensional problem and often a challenging task. A major issue hindering the process is a lack of structured information. In particular, intangible losses are difficult to evaluate monetarily. Furthermore, the uncertainty related to the operational environment is difficult to estimate. This paper proposes a practical economic approach that aims at assessing different measures to mitigate the impacts of the crises. The purpose is to contribute to the understanding of the decision-making related to crisis management so that the goals of the decisions can be reached. The approach is mainly aimed at enhancing decision-making on a strategic level and at supporting crisis-management training. Additionally, a software tool based on the approach will be developed to make the assessment procedure usable in practice. The approach is demonstrated in two pilot cases: extreme winter storm in North of Finland and a major earthquake in Italy. The paper is based on research carried out in the CRISMA integration project which is funded from the European Community's Seventh Framework Programme.
AB - The assessment of economic impacts of crises and risk reduction generated by different mitigation measures is a multidimensional problem and often a challenging task. A major issue hindering the process is a lack of structured information. In particular, intangible losses are difficult to evaluate monetarily. Furthermore, the uncertainty related to the operational environment is difficult to estimate. This paper proposes a practical economic approach that aims at assessing different measures to mitigate the impacts of the crises. The purpose is to contribute to the understanding of the decision-making related to crisis management so that the goals of the decisions can be reached. The approach is mainly aimed at enhancing decision-making on a strategic level and at supporting crisis-management training. Additionally, a software tool based on the approach will be developed to make the assessment procedure usable in practice. The approach is demonstrated in two pilot cases: extreme winter storm in North of Finland and a major earthquake in Italy. The paper is based on research carried out in the CRISMA integration project which is funded from the European Community's Seventh Framework Programme.
KW - cost
KW - benefit
KW - crisis
KW - decision-making
KW - mitigation measure
KW - economic impact
U2 - 10.2495/RISK140201
DO - 10.2495/RISK140201
M3 - Conference article in proceedings
SN - 978-1-84564-793-3
SN - 978-1-84564-792-6
SP - 229
EP - 241
BT - Proceedings of the IX international conference on Risk analysis and hazard mitigation. Brebbia, C.A. (ed.)
CY - Ashurst, UK
ER -