Janne Kettunen

Janne Kettunen
Assistant Professor of Decision Sciences
Decision Sciences
Funger Hall
2201 G Street NW
Suite 409
Washington, DC 20052
[email protected]

Janne Kettunen is an assistant professor of decision sciences at the George Washington University School of Business. He teaches courses on risk analysis, project and program management, and foundations of operations management. He has taught at the undergraduate, graduate, executive, and Ph.D. programs since 2001 in various universities including London Business School. He has served in the advisory committee for Deputy Minister of Environment Canada Paul Boothe on “Government’s GHG emissions plans, how to move forward with a regulatory approach for all major emitters”. He has also served as a judge in several INFORMS competitions for best papers.

Professor Kettunen earned his D.Sc. in Systems and Operations Research from the Helsinki University of Technology (now known as the Aalto University). The last three years of his doctoral studies 2006-2009, he spent at the London Business School, Management Science and Operations area as a visiting Ph.D. student and a research fellow. Prof. Kettunen has also M.S. in Electrical Engineering and M.B.A. in Finance degrees. Prior to engaging in the academic career, he has worked with companies and institutes including Nokia (Japan), The Board of Actuarials Standards (UK), Compagnie Financiere Tradition (Asia Pacific), and Institute of Strategy and International Business (Finland).

Outstanding Master of Science in Project Management Faculty Award 2018

INFORMS Editor’s Cut Article: Lejeune M., J. Kettunen. 2017. Managing Reliability and Stability Risks in Forest Harvesting. Manufacturing & Service Operations Management.

Research Grant, Institute for Sustainable Energy, Environment and Economy (ISEEE, 2012)

Research Grant, Carbon Management Canada (CMC, 2011)

Research Grant, ISEEE-Natural Resources Canada-CMC (2010)

Research Grant, ISEEE-Natural Resources Canada (2010)

Dean’s Research Grant, Haskayne School of Business (2009)

Research Fellow, London Business School (2008)

Best PaperFinalist, Dennis J. O’Brien USAEE(2008)

Research & Materials Development Grant, London Business School (2007)

Research Grant, Research Foundation of Helsinki University of Technology (2006)

Research Grant, Jenny and Antti Wihuri Foundation (2005)

  • Decision Making Under Uncertainty
  • Portfolio Decision Analysis
  • Operational Decision Making
  • Applied: New Product Development and the Energy Market

D.Sc., Helsinki University of Technology (Aalto University), 2009
M.B.A., Hawaii Pacific University, 2003
M.S., Helsinki University of Technology (Aalto University), 2001

  • Introduction to Project and Program Management
  • Risk Analysis for Decision Making

Professor Kettunen’s current research interests deal with decision making under uncertainty and risk. His work interfaces operations management and decision analysis. In terms of application areas, his current research interests are in new product development and project management. His research has been funded by several research grants and he has been a finalist for the Dennis J. O’Brien USAEE best paper award. He has published in premier scholarly journals including Manufacturing & Service Operations Management, Production and Operations Management, and European Journal of Operational Research. His work has also been showcased in the INFORMS Editor’s Cut, which is the preeminent collection of industry-focused innovations and applications in advanced analytics and operations research. He is frequently presenting his work in international conferences in the fields of operations management and decision analysis.

Lejeune, M., J. Kettunen. (2018). ”A Fractional Stochastic Integer Programming Problem for Reliability-to-Stability Ratio in Forest Harvesting,” Computational Management Science. Forthcoming.

Kettunen, J., Y. Kwak. (2018). ”Scheduling Public Requests for Proposals: Models and Insights,” Production and Operations Management. Forthcoming.

Kettunen, J., A. Salo, (2017), ”Estimation of downside risk in project portfolio selection,” Production and Operations Management, 26(10) 1839-1853.

Lejeune M., J. Kettunen, (2017), “Managing reliability and Stability Risks in Forest Harvesting,” Manufacturing & Service Operations Management, 19(4) 620-638.

N. Sabzvar, V. Enns, J. Bergerson, J. Kettunen, (2017), “Modeling competitive firms’ performance under price-sensitive demand and cap-and-trade emission constraints,” International Journal of Production Economics, 184 193-209.

Chen, L., J. Kettunen, (2016), ”Is Certainty in Carbon Policy Better than Uncertainty,” European Journal of Operational Research,  258(1) 230-243.

Kettunen, J., D. W. Bunn, (2015), “Risk Induced Resource Dependency in Capacity Investments,” European Journal of Operational Research, 250, 3, 914-924.

Kettunen, J., Y. Grushka-Cockayne, B. De Reyck, Z. Degraeve, (2015), “New Product Development Flexibility in a Competitive Environment,” European Journal of Operational Research, 244, 3, 892-904.

McKellar, J. M., J. A. Bergerson, J. Kettunen, H. L. MacLean, (2013), “Predicting Project Environmental Performance under Market Uncertainties: Case Study of Oil Sands Coke,”Environmental Science and Technology, 47, 11, 5979-5987.

Kettunen, J., D. W. Bunn, W. Blyth (2011), “Investment Propensities under Carbon Policy Uncertainty,” The Energy Journal, 32, 1, 77-117.

Kettunen, J., A. Salo, D. W. Bunn (2010), “Optimization of Electricity Retailer’s Contract Portfolio Subject to Risk Preferences,” IEEE Transactions on Power Systems, 25, 1, 117-128.

Blyth, W., D. W. Bunn, J. Kettunen, T. Wilson, (2009), “Policy Interactions, Risk and Price Formation in Carbon Markets,” Energy Policy, 37, 12, 5192-5207.

Kettunen, J., G. Meissner, (2006), “Valuing Credit Default Swaps on Correlated LMM Processes,” Journal of Alternative Investments, 9, 1, 78-88.


The George Washington University School of Business

Assistant Professor, Decision Sciences (2013-present)

University of Calgary

Joint appointment as

(1) Assistant Professor, Haskayne School of Business, Operations Management (2009-2013)

(2) Faculty, Institute for Sustainable Energy, Environment and Economy, Energy and Environmental Systems (2009-2013)

London Business School

Research Fellow/Researcher, Management Science and Operations (2006-2009)

Helsinki University of Technology (now known as Aalto University)

Researcher, Systems Analysis Laboratory (2005-2006)

Hawaii Pacific University

Research Associate, Finance (2003)

Helsinki University of Technology (now known as Aalto University)

Research Assistant, Institute of Strategy and International Business (2001)



Production and Operations Management Society

College of Product Innovation and Technology Management

Institute for Operations Research and Management Sciences

Decision Analysis Society



The Board for Actuarial Standards, London, UK

Independent Consultant (2007)

Compagnie Financiere Tradition, Asia Pacific

Business Development Analyst (2003-2005)

Nokia, Yokosuka, Japan

Business Development Analyst (1999-2000)

Nokia, Espoo, Finland

Research Associate (1998)