Risk management and multicriteria optimization of production program

Abstract

The paper presents the integration of risk mamagement methodology and multicriterial optimization of production program. The aim of the research is development an integrated risk management model and multicriterial optimization of production program that will enable reduction of risk of operating losses and increase efficiency of enerprise management in the production program selection. Research results indicate that the decision makers in using an integrated model for an optimal production program, rated the model as a significant support in decision making process, shortening decision making time and increase the quality of decisions as it is based on quantitive indicators and and not on subjective evaluation.