TY - JOUR
T1 - Creating stakeholder value through risk mitigation Measures in the context of disaster management
AU - Räikkönen, Minna
AU - Molarius, Riitta
AU - Mäki, Kari
AU - Forssén, Kim
AU - Petiet, Peter
AU - Nieuwenhuijs, Albert
N1 - Funding Information:
Acknowledgments: The research leading to these results has received funding from the European Union Seventh Framework Programme (FP7/2007–2013) under grant agreement No. 606799 (INTACT). The information and views set out in this article are those of the author(s) and do not necessarily reflect the official opinion of the European Union. Neither the European Union institutions and bodies nor any person acting on their behalf may be held responsible for the use, which may be made of the information contained therein. Reproduction is authorized provided the source is acknowledged.
Funding Information:
The research leading to these results has received funding from the European Union Seventh Framework Programme (FP7/2007?2013) under grant agreement No. 606799 (INTACT). The information and views set out in this article are those of the author(s) and do not necessarily reflect the official opinion of the European Union. Neither the European Union institutions and bodies nor any person acting on their behalf may be held responsible for the use, which may be made of the information contained therein. Reproduction is authorized provided the source is acknowledged.
Funding Information:
The paper is based on the research carried out in the INTACT project [1], co-funded by the European Union (EU) under the 7th Framework Programme. INTACT’s primary focus was to bring together innovative and cutting edge knowledge and experience from across Europe in order to develop and demonstrate methods and tools that will enable CI operators and Critical Infrastructure Protection (CIP) policy makers to plan for infrastructure resilience, and the risks posed to CI, when taking future climate change into account. The INTACT project aimed to realize this through providing guidance on how to determine future risks due to climate change, and best practices on protective measures as well as crisis response and recovery capabilities. The INTACT Wiki [32] serves as the portal to this information.
Publisher Copyright:
© 2017 by the authors.
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2017
Y1 - 2017
N2 - The resilience of critical infrastructure (CI) to extreme
weather events (EWE) is one of the most demanding
challenges for all stakeholders in modern society.
Although partial risk reduction is feasible through the
introduction and implementation of various risk
mitigation measures (RMM), decision-makers at all
decision-making levels are pressured to find ways to cope
with the impending extreme weather and to have a thorough
understanding of the EWE impacts on CI. This paper
discusses how the value of RMMs can be created and
assessed in a stakeholder network. Qualitative research
methods, namely literature review and AHP (Analytic
Hierarchy Process), were applied as research methods. The
paper examines how disaster management and value creation
both converge and differ from each other. It also
presents a case study on the value of various RMM and the
impacts of extreme winter conditions on electricity
distribution in Finland. Based on the case study, the
most important value criterion was the benefits of the
RMM in economic, social, and environmental terms. At a
fundamental level, the value of RMM should be expressed
not only in terms of money but also in regard to safety,
security, societal acceptability, CI dependability, and
other typically intangible criteria. Moreover, the
results reveal that the interrelationship of value
creation and disaster management offers new insights to
both approaches.
AB - The resilience of critical infrastructure (CI) to extreme
weather events (EWE) is one of the most demanding
challenges for all stakeholders in modern society.
Although partial risk reduction is feasible through the
introduction and implementation of various risk
mitigation measures (RMM), decision-makers at all
decision-making levels are pressured to find ways to cope
with the impending extreme weather and to have a thorough
understanding of the EWE impacts on CI. This paper
discusses how the value of RMMs can be created and
assessed in a stakeholder network. Qualitative research
methods, namely literature review and AHP (Analytic
Hierarchy Process), were applied as research methods. The
paper examines how disaster management and value creation
both converge and differ from each other. It also
presents a case study on the value of various RMM and the
impacts of extreme winter conditions on electricity
distribution in Finland. Based on the case study, the
most important value criterion was the benefits of the
RMM in economic, social, and environmental terms. At a
fundamental level, the value of RMM should be expressed
not only in terms of money but also in regard to safety,
security, societal acceptability, CI dependability, and
other typically intangible criteria. Moreover, the
results reveal that the interrelationship of value
creation and disaster management offers new insights to
both approaches.
KW - critical infrastructure
KW - extreme weather event
KW - risk mitigation measure
KW - value
KW - value creation
KW - assessment
KW - disaster management
KW - stakeholder
UR - http://www.scopus.com/inward/record.url?scp=85078292305&partnerID=8YFLogxK
U2 - 10.3390/infrastructures2040014
DO - 10.3390/infrastructures2040014
M3 - Article
VL - 2
JO - Infrastructures
JF - Infrastructures
SN - 2412-3811
IS - 4
M1 - 14
ER -