Who Should Attend
Geoscientists, oil and gas technical staff, and energy industry specialists interested in learning concepts and skills essential for interfacing on business problems where future outcomes are uncertain, such as expected reserves, per well costs, and optimum spacing choices or where investment/ divestment (A&D) decisions need to be made.
The course will cover the following topics:
- High-level overview of key concepts related to the value of information: when learning helps, why costs matter, why reliability matters, and how these components fit together.
- Decision and Risk Analysis (D&RA) principles and processes
- Types of problems suitable for D&RA
- Understanding what D&RA deliverables look like
- How to interact with a Decision Board
- Case studies of practical applications for D&RA tools and concepts
- Through role playing, gain understanding of group dynamics and the human component of handling uncertainty and complexity