Managing strategic risks through costbenefit evaluation

    Research output: Chapter in Book/Report/Conference proceedingChapter or book articleProfessional

    Abstract

    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.
    Original languageEnglish
    Title of host publicationResearch highlights in safety and security
    Place of PublicationEspoo
    PublisherVTT Technical Research Centre of Finland
    Pages116-117
    ISBN (Electronic)978-951-38-8130-6
    ISBN (Print)978-951-38-8129-0
    Publication statusPublished - 2013
    MoE publication typeNot Eligible

    Publication series

    SeriesVTT Research Highlights
    Number10
    ISSN2242-1173

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  • Cite this

    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 http://www.vtt.fi/inf/pdf/researchhighlights/2013/R10.pdf