Making good decisions

by Bratvold, Reidar B., (Reidar Brumer)

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Title Statements

Full title :Making good decisions / Reidar B. Bratvold, Steve H. Begg.

Edition Statements

Publication Date:©2010

Publication Statements

Publisher(s):Society of Petroleum Engineers
Place of Publication:Richardson, TX
Language:eng
Publication Date:©2010

The Physical Object

Description:1 online resource (viii, 207 pages) : : illustrations (some color)

Edition Identifiers

ISBN:1613992262, 9781613992265
oclc:ocn961564686
LC Classification:HD30.23
Dewey Decimal:658.403

Preface -- Contents -- 1-Decision Making and Uncertainty in the Exploration and Production Industry -- 1.1 Introduction -- 1.2 Decisions in the Exploration and Production (E & P) Industry -- 1.3 Decision Making -- 1.4 Uncertainty and Decision Making -- 1.5 Using Models -- 1.6 Subsequent Chapters -- 1.7 Suggested Reading -- 2-How to Make Good Decisions -- 2.1 Introduction -- 2.2 High-Level Decision-Making Methodology -- 2.3 Decision Elements -- 2.4 A Decision-Making Methodology -- 2.5 Phase 1: Framing or Structuring -- 2.6 Phase 2: Modeling and Evaluating

2.7 Phase 3: Assessing and Deciding2.8 Assessing Decision Quality -- 2.9 Summary -- 2.10 Suggested Reading -- 3-Quantifying Uncertainty -- 3.1 Introduction -- 3.2 Uncertain Variables -- 3.3 The Nature of Probability -- 3.4 The Basics -- 3.5 Updating Probabilities With New Information -- 3.6 Probability Models -- 3.7 Summary -- 3.8 Suggested Reading -- 4-Monte Carlo Simulation -- 4.1 Introduction -- 4.2 Procedure -- 4.3 Sensitivity Analysis -- 4.4 Dependencies -- 4.5 Expected Value Revisited -- 4.6 Suggested Reading

5-Structuring and Solving Decision Problems5.1 Decision-Tree Elements -- 5.2 Building Decision Trees -- 5.3 Tree Si…