In capital-intensive industries and the infrastructure sector, strategic decision-making often involves optimizing investment portfolios and maintenance processes across strategic, financial and risk objectives. Economic analyses are needed to ensure scarce resources, like time and money, are allocated rationally with respect to available investment and asset development options. In addition to this, decision makers also have to weigh up other aspects, such as safety and environmental impacts and business dynamics. Companies therefore need systematic methods for balancing prospective profits and benefits against risk.
|Title of host publication||Research highlights in safety and security|
|Place of Publication||Espoo|
|Publisher||VTT Technical Research Centre of Finland|
|Publication status||Published - 2013|
|MoE publication type||Not Eligible|
|Series||VTT Research Highlights|
Kortelainen, H., Räikkönen, M., & Kunttu, S. (2013). Managing strategic risks through costbenefit evaluation. In Research highlights in safety and security (pp. 116-117). VTT Technical Research Centre of Finland. VTT Research Highlights, No. 10