By Frank Koch (Ed.)
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Additional info for Decision Analysis in E&P
A key to defining strategies is that each must be significantly different from one another, achievable, and compelling. Not all pathways can meet these three criteria. All Basic Assumptions Aspects of the problem that will be studied Aspects of the problem that will not be studied Study time table Value measures to use when comparing decision options Deliverables required at intermediate points in the study, as well as those at the conclusion Once a set of strategies has been defined, the teams must consciously ask themselves whether the spectrum of alternatives being considered truly defines the limits of opportunity.
Graphical methods can be a convenient way to measure progress. Appropriate Frame Creative, Doable Alternatives Meaningful and Reliable Information Clear Values and Trade-offs Logically Correct Reasoning Commitment to Action The method used in the Duri study is illustrated in Figure 2. Each team member marks a DQ diagram, representing their opinion of progress toward the 100% goal. Taking these surveys at key decision points in the study can provide a chronological view of the study progress. Facilitators can use these opinions to help guide the work activity.
The Project or Working Team represented in the lower portion of the diagram is responsible for actually conducting the 32 SPE 28743 Larry Neal, Jr. them. Figure 5 is a simple example. Accuracy is not the goal in this exercise. The team should strive for comprehensiveness. Pushing the team to extreme logical limits often yields the most valuable and interesting opportunities. What is most effective about this technique however, is the team's constant awareness of the relative position of their opinion and the 100% goal.