Value chain and project maturation

[membership level=”0,-1″] This content is for members only. Log In Register [/membership][membership] Stage-gated decision processes The original Stage-Gate system created by Robert G. Cooper in the 1980s, has evolved over the years and been implemented in many industries. Today most of the larger companies in the oil and energy sector have adopted some form of … Read More

Building an effective organisation

[membership level=”0,-1″] This content is for members only. Log In Register [/membership][membership] Effectiveness in a decision analysis context A number of factors influence the effectiveness of an organisation. At DecisionNodes, we focus on the effectiveness of the decision-making processes, the quality of the decisions that result from those processes, and the ability to learn over … Read More

Decision processes

[membership level=”0,-1″] This content is for members only. Log In Register [/membership][membership] Systematic approach A good decision basis is one that considers all alternatives that are available to decision makers, analyses the potential consequences of choosing each alternative, and systematically presents alternatives, consequences and economic value to guide decision makers towards the optimal set of … Read More

Risk/uncertainty categories

[membership level=”0,-1″] This content is for members only. Log In Register [/membership][membership] Risk versus Uncertainty The different uses of the terms risk and uncertainty is an everlasting source of confusion. It is common practice by technical disciplines to use the term uncertainty to denote the unknown outcome of a given parameter – a probability distribution … Read More

Decision trees

[membership level=”0,-1″] This content is for members only. Log In Register [/membership][membership] Visual and analytical tool Decision trees can be used both as a visual communication tool and as an analytical tool. Decision trees are closely related to influence diagrams and use a flowchart like structure to show relationships between decisions and uncertain outcomes. Drawing decision … Read More

Project modelling

[membership level=”0,-1″] This content is for members only. Log In Register [/membership][membership] Project modelling Project modelling is a multi-discipline work process consisting of both parallel and sequential tasks, but with constant interaction between team members. Well integrated project teams are vital to fully benefit from the collective competence of the team members throughout the project … Read More

Framing

[membership level=”0,-1″] This content is for members only. Log In Register [/membership][membership] Setting the frame Setting the right frame is the initial activity in any decision process. The purpose is to filter what is important and provide a limited – but not limiting – description of the problem. A too narrow frame may result in … Read More

Value potential

[membership level=”0,-1″] This content is for members only. Log In Register [/membership][membership] Early phase screening It is in the early phases of a project that most value is created or lost. Even if a project proves to be commercially interesting by a first pass analysis, it is in the operator’s and licensee’s best interest to … Read More