Managing digital-twin lifecycle-recognition and handling of business risks

Tero Rantala, Minna Saunila, Juhani Ukko, Aki Mikkola, Juha Kortelainen, Akhtar Zeb

Research output: Chapter in Book/Report/Conference proceedingChapter or book articleScientificpeer-review

Abstract

While the adoption of digital twins among industrial companies is growing due to rapid developments in available solutions, the utilization of digital twins as a part of company operations and management is a new phenomenon. As a result, the long-term functionality of the digital-twin lifecycle is not well understood. Because of the small number of example cases, there is a lack of existing case data. This chapter offers both theoretical and empirical insights into the business-related risks that can arise during the different digital-twin lifecycle phases. The empirical information introduced here came from two Finnish multinational industrial companies that are planning to develop new service businesses based on digital twins.
Original languageEnglish
Title of host publicationReal-time Simulation for Sustainable Production
Subtitle of host publicationEnhancing User Experience and Creating Business Value
EditorsJuhani Ukko, Minna Saunila, Janne Heikkinen, R.Scott Semken, Aki Mikkola
PublisherTaylor & Francis
Chapter16
Pages213-223
Number of pages11
ISBN (Electronic)9781003054214
ISBN (Print)9780367515164
DOIs
Publication statusPublished - May 2021
MoE publication typeA3 Part of a book or another research book

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