Risk management and safety
VTT’s multi-technological risk management expertise improves companies´ capabilities to lead and manage risks created by emerging technologies and changing operating models and business environment. We implement the risk and safety management procedures in the life cycles of products or services and support decision-making at each stage. This creates the basis for seamless operation processes, business continuity, risk-conscious decision-making, and proactive exploitation of opportunities.
VTT’s expertise covers the applications of risk, safety and reliability management across the whole life cycle of a product service. In the early stages of the innovation process the focus is in recognising the emerging risks and opportunities of the business, and in the later stages of the life cycle the focus transfers to ensuring the safety and security, productivity and efficiency of the production. Examples of our application areas include asset management and maintenance development, due diligence surveys connected with mergers and acquisitions, risk assessments in industrial and infrastructure systems and system safety and reliability management during the design phase. The methods are applied in all levels of hierarchy from single machines to production facilities and value networks and extensive infrastructure systems.
The significance of risk management is growing in all phases of the innovation process due to the increasing uncertainty related to the rapid changes in the business environment. At the same time, the vulnerability of companies and society increases with the increasing complexity of the critical infrastructure systems, and the consequences of malicious acts or unintended failures across country borders.
The research area aims to incorporate the risk management procedures to the company innovation processes and life cycle decision-making and in this way, create premises for seamless operation processes for a production facility or an operational entity, as well as business continuity, risk-conscious decision-making, and proactive exploitation of opportunities. The ongoing development of technology, operational models and requirements calls for the continuous methodology and model development in the field of safety, security, reliability and socio-technical risks.
At VTT, about 40 people conduct research and development work in the field of risk, safety, security and reliability management as their main task. In addition, VTT carries out significant research in several specific fields of safety e.g. fire safety and information security, and in the fields of the reliability related phenomena e.g. corrosion and wearing.