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

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

doi:10.4324/9781003054214-20

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

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

^*Corresponding author for this work

Not published at VTT

Lappeenranta-Lahti University of Technology LUT

Research output: Chapter in Book/Report/Conference proceeding › Chapter or book article › Scientific › peer-review

1 Citation (Scopus)

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 language	English
Title of host publication	Real-time Simulation for Sustainable Production
Subtitle of host publication	Enhancing User Experience and Creating Business Value
Editors	Juhani Ukko, Minna Saunila, Janne Heikkinen, R.Scott Semken, Aki Mikkola
Publisher	Taylor & Francis
Chapter	16
Pages	213-223
Number of pages	11
ISBN (Electronic)	978-100305421-4
ISBN (Print)	978-036751516-4
DOIs	https://doi.org/10.4324/9781003054214-20
Publication status	Published - May 2021
MoE publication type	A3 Part of a book or another research book

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10.4324/9781003054214-20

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Rantala, T., Saunila, M., Ukko, J., Mikkola, A., Kortelainen, J., & Zeb, A. (2021). Managing digital-twin lifecycle-recognition and handling of business risks. In J. Ukko, M. Saunila, J. Heikkinen, R. S. Semken, & A. Mikkola (Eds.), Real-time Simulation for Sustainable Production: Enhancing User Experience and Creating Business Value (pp. 213-223). Taylor & Francis. https://doi.org/10.4324/9781003054214-20

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Rantala, T, Saunila, M, Ukko, J, Mikkola, A, Kortelainen, J & Zeb, A 2021, Managing digital-twin lifecycle-recognition and handling of business risks. in J Ukko, M Saunila, J Heikkinen, RS Semken & A Mikkola (eds), Real-time Simulation for Sustainable Production: Enhancing User Experience and Creating Business Value. Taylor & Francis, pp. 213-223. https://doi.org/10.4324/9781003054214-20

Managing digital-twin lifecycle-recognition and handling of business risks. / Rantala, Tero; Saunila, Minna; Ukko, Juhani et al.
Real-time Simulation for Sustainable Production: Enhancing User Experience and Creating Business Value. ed. / Juhani Ukko; Minna Saunila; Janne Heikkinen; R.Scott Semken; Aki Mikkola. Taylor & Francis, 2021. p. 213-223.

Research output: Chapter in Book/Report/Conference proceeding › Chapter or book article › Scientific › peer-review

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AU - Kortelainen, Juha

AU - Zeb, Akhtar

PY - 2021/5

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AB - 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.

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Rantala T, Saunila M, Ukko J, Mikkola A, Kortelainen J, Zeb A. Managing digital-twin lifecycle-recognition and handling of business risks. In Ukko J, Saunila M, Heikkinen J, Semken RS, Mikkola A, editors, Real-time Simulation for Sustainable Production: Enhancing User Experience and Creating Business Value. Taylor & Francis. 2021. p. 213-223 doi: 10.4324/9781003054214-20

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

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