A Scientific Integrity Consortium developed a set of recommended principles and best practices that can be used broadly across scientific disciplines as a mechanism for consensus on scientific integrity standards and to better equip scientists to operate in a rapidly changing research environment. The two principles that represent the umbrella under which scientific processes should operate are as follows: (1) Foster a culture of integrity in the scientific process. (2) Evidence-based policy interests may have legitimate roles to play in influencing aspects of the research process, but those roles should not interfere with scientific integrity. The nine best practices for instilling scientific integrity in the implementation of these two overarching principles are (1) Require universal training in robust scientific methods, in the use of appropriate experimental design and statistics, and in responsible research practices for scientists at all levels, with the training content regularly updated and presented by qualified scientists. (2) Strengthen scientific integrity oversight and processes throughout the research continuum with a focus on training in ethics and conduct. (3) Encourage reproducibility of research through transparency. (4) Strive to establish open science as the standard operating procedure throughout the scientific enterprise. (5) Develop and implement educational tools to teach communication skills that uphold scientific integrity. (6) Strive to identify ways to further strengthen the peer review process. (7) Encourage scientific journals to publish unanticipated findings that meet standards of quality and scientific integrity. (8) Seek harmonization and implementation among journals of rapid, consistent, and transparent processes for correction and/or retraction of published papers. (9) Design rigorous and comprehensive evaluation criteria that recognize and reward the highest standards of integrity in scientific research.
Scientific integrity is at the forefront of the scientific research enterprise. This paper provides an overview of key existing efforts on scientific integrity by federal agencies, foundations, nonprofit organizations, professional societies, and academia from 1989 to April 2016. It serves as a resource for the scientific community on scientific integrity work and helps to identify areas in which more action is needed. Overall, there is tremendous activity in this area and there are clear linkages among the efforts of the five sectors. All the same, scientific integrity needs to remain visible in the scientific community and evolve along with new research paradigms. High priority in instilling these values falls upon all stakeholders.
Since the presentation in 1984 of the author's paper on "Comparison of Methods for Determining Fair Market Values," (SPE Preprint 13769), the authors have had an opportunity to evaluate the risk analysis methods used both by industry as well as by their own firm in over thirty appraisal cases. The industry cases were further analyzed as part of the class work in the University of Tulsa-sponsored seminar on "Appraisal of Oil and Gas Properties," where critical review by many market sector representatives was applied. With these data as a base, a study has been made of the adequacy (or lack thereof) of the risk analysis in oil and gas property appraisals. It has been found that of the property appraisals. It has been found that of the four methods generally used by industry for fair market value determination, only one adequately addresses risk analysis and allows numerical treatment of the subjective part of the appraisal. We term this method the Risked Present Worth method, while the other three are generally known as the BOE method, the Cumulative Cash method and the Targeted ROR method. None of these latter three methods, while frequently used, allows for a systematic approach to risk analysis. In contrast, the Risked Present Worth method provides for a distinction between the effects of provides for a distinction between the effects of time-value-of-money and the mechanical, operator and market-related risks. In the continuing development of this method over the last four years, it has become possible to develop checklists for subjective assessment of the various types of risk toward determination of a single risk factor which subsequently can be multiplied into the unrisked present worth of the future cash flow and yield an present worth of the future cash flow and yield an acceptable fair market value. These checklists are designed to allow risk analysis by appraisers of varying levels of skill or experience. They are also designed to provide default values where some details about an oil or gas property may be unavailable. The method currently defaults (if absolutely no information is available) at a risk factor of 0.73 for proved developed producing properties as of fall, 1988. Additional market data properties as of fall, 1988. Additional market data evaluations performed during the preparation of this paper show a slight downward trend toward 71%. The paper show a slight downward trend toward 71%. The detailed risk analysis, which can be performed on the basis of additional property information, may increase or decrease the risk factor. Under current economic conditions (winter, 1988), the present worth at 10% would be used as a base for the unrisked present worth, but could be accurately adjusted to reflect the prevailing interest rates. Introduction Oil and gas property appraisals have many uses, most commonly in cases of sale or purchase of properties. Also, the determination of an oil property's fair market value may be required in cases of bank loan collateral determination, for internal development planning in oil companies, in estate planning and in planning in oil companies, in estate planning and in different types of condemnation and litigation. In almost all cases, a single number, namely the fair market value (rather than a range) is required and this creates an inherent problem for the appraiser, whether he or she functions as an independent expert or as an official in a company. Definition of Fair Market Value The Uniform Appraisal Standards for Federal Land Acquisitions (Inter-Agency Land Acquisition Conference, 1973) from a base for fair market value determination, not only for land acquisitions but also for oil and mineral property appraisals. P. 33
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