Making Good Decisions

• Author(s): Reidar B. Bratvold, Steve Begg,
• Publisher: Society of Petroleum Engineers
• Pages: 207
• ISBN_10: 1555632580
  ISBN_13: 9781555632588
  
• Language: en
• Categories: Business & Economics / Industries / Energy , Education / Decision-Making & Problem Solving , Technology & Engineering / Power Resources / Fossil Fuels , Technology & Engineering / Petroleum ,

Description:...

Making strategic and tactical decisions about your company's future - oil and gas field developments, selection drilling locations, initiating seismic and reservoir studies, company acquisitions and R&D investments - is often a complex process with highly uncertain outcomes and consequences. Knowing how to make good decisions is essential whether you are a decision maker or providing information to support decision makers. Making Good Decisions is based on commonly accepted best practices and underpinned by sound theory, stemming from the author's mix of industry and academic experience. It will help the reader to think clearly about complex and uncertain decision situations and explain such topics as decision-tree analysis, Monte Carlo simulation, value of information, and value of flexibility. This book is essential reading for technical professionals and managers alike - you might even find some good tips for making personal decisions.