All Days 1995

Abstract: Risk analysis is a method of quantifying the effects of uncertainty on decision outcomes. In many E&P decision analyses, evaluators do not explicitly consider the uncertainties and possible decision outcomes but instead present only a single, most likely result. Often the uncertainties are considered subliminally. This practice can lead to sub-optimal decisions. Explicit forms of risk analyses can improve decisions by providing more accurate representations of possible outcomes. This pape… Show more

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