Janne Kettunen

photo - Janne Kettunen

Janne Kettunen

Associate Professor of Decision Sciences


Office Phone: (202) 994-3029
2201 G Street NW, Suite 409 Washington, DC 20052

Janne Kettunen is a tenured associate professor of decision sciences at the George Washington University School of Business. He has taught courses on Risk Analysis for Decision Makers, Introduction to Project and Program Management, Foundations of Operations Management, Decision Models, and Optimization Methods and Applications. Since 2001, he has taught in undergraduate, graduate, executive and Ph.D. programs in various universities including London Business School. He has served on the advisory committee for Canada's Deputy Minister of Environment Paul Boothe on “Government’s GHG emissions plans, and how to move forward with a regulatory approach for all major emitters.” Before his academic career, he worked with companies and institutes including Nokia (Japan), the Board for Actuarial Standards (UK), Compagnie Financiere Tradition (Asia Pacific), and the Institute of Strategy and International Business (Finland).

Professor Kettunen’s research interests deal with decision-making under uncertainty and risk. His research focuses predominantly on production and operations management problems that can be grouped under two distinct areas, namely 1) new product development, R&D and project management, and 2) industry studies and public policy. 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 Operations Research, Manufacturing & Service Operations Management, and Production and Operations Management. His work has 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 has also served as a judge in several INFORMS competitions for best papers and is on the editorial board of the Decision Analysis journal. Currently, he is an elected board member at the INFORMS Technology, Innovation Management and Entrepreneurship Section and vice president of meetings at the POMS College of Product Innovation and Technology Management.

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 and Risk

Production and Operations Management

New Product Development, R&D, and Project Management

Industry Studies and Public Policy

D.Sc. in Systems and Operations Research, Helsinki University of Technology (now known as Aalto University), 2009

M.B.A. in Finance, Hawaii Pacific University, 2003

M.S. in Electrical Engineering, Helsinki University of Technology (now known as Aalto University), 2001

Kettunen, J., M. Lejeune. (2022). ”Data-Driven Project Portfolio Selection: Decision-Dependent Stochastic Programming Formulations with Reliability and Time to Market Requirements.” Computers & OR. Forthcoming.

Kettunen, J., Nematollahi, E., Y. Zinchenko. (2021). ”Why do Energy Markets in Europe Rely on One Instrument.” Production and Operations Management. Forthcoming.

Kettunen, J., M. Lejeune. (2020). “Technical Note – Waterfall and Agile Product Development Approaches: Disjunctive Stochastic Programming Formulations,” Operations Research. 68(5) 1356-1363.

Lejeune, M., J. Kettunen. (2018). ”A Fractional Stochastic Integer Programming Problem for Reliability-to-Stability Ratio in Forest Harvesting,” Computational Management Science. 15(3-4) 583-597.

Kettunen, J., Y. Kwak. (2018). ”Scheduling Public Requests for Proposals: Models and Insights,” Production and Operations Management. 27(7) 1271-1290.

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.

Academic Positions

The George Washington University School of Business

Associate Professor, Decision Sciences (2019-present)

Assistant Professor, Decision Sciences (2013-2019)

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

The Institute for Operations Research and the Management Sciences (INFORMS)

INFORMS Technology, Innovation Management and Entrepreneurship Section

Decision Analysis Society

Non-academic Positions

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)