Copyright Decision Strategies http://www.decisionstrategies.com/rss/blog-feed Decision Strategies corporate blog RSS feed en-us Fri, 18 May 2012 05:54:38 CDT 5 http://www.decisionstrategies.com/rss/blog-feed http://www.decisionstrategies.com/Themes/Admin/logo_decisionstrategies.jpg http://www.decisionstrategies.com/blog/2012/03/Materiality-Whitepaper http://www.decisionstrategies.com/blog/2012/03/Materiality-Whitepaper Thu, 22 Mar 2012 21:40:00 GMT Recently, a client planning to participate in a Play in the Western Canadian Sedimentary Basin raised a seemingly simple question with a very complex answer: how much land should we buy? Clearly, there are a great number of variables involved in making this decision, but many of them hinge on the concept of materiality. In the context of hydrocarbons, materiality essentially means “how much presence do we need to make this opportunity worthwhile and control our own destiny?” How much acreage will make the purchase worth the cost, effort and risk? How much will ensure leverage to achieve my business goals efficiently? READ ABOUT how Mr. Bill Haskett tackles this kind of question by assessing materiality from two angles: internal and external. http://www.decisionstrategies.com/blog/2012/03/Drilling-Solutions-by-Dudley-McManus http://www.decisionstrategies.com/blog/2012/03/Drilling-Solutions-by-Dudley-McManus Sun, 11 Mar 2012 08:27:00 GMT With today’s drilling and completion costs accounting for nearly two-thirds of the capital expenditures of some projects, you know that errors in cost and timing estimates can have a significant impact on project economics. Having few analogous wells and limited data, the perception biases of your drilling team, whether pessimistic or optimistic,might distort the ranges of uncertainties used. http://www.decisionstrategies.com/blog/2011/05/Risk-Tolerance-and-Risck-Neutrality http://www.decisionstrategies.com/blog/2011/05/Risk-Tolerance-and-Risck-Neutrality Tue, 03 May 2011 15:14:00 GMT The usual stage at which risk tolerance is applied is the development phase of a project. Companies are comfortable with the notion of failed exploration wells, but not failed developments. Stringent probability-of-success hurdles often result. http://www.decisionstrategies.com/blog/2011/03/When-to-Trust-Your-Gut http://www.decisionstrategies.com/blog/2011/03/When-to-Trust-Your-Gut Thu, 31 Mar 2011 12:06:00 GMT Routine decisions – whether business or personal – are easy. We make them without a lot of thought. Kahneman and Klein identified four criteria to be met in order to make a decision by instinct. http://www.decisionstrategies.com/blog/2010/07/Have-You-Played-Out-Enough-What-Ifs-in-Your-Risk-Analysis http://www.decisionstrategies.com/blog/2010/07/Have-You-Played-Out-Enough-What-Ifs-in-Your-Risk-Analysis Wed, 07 Jul 2010 20:55:00 GMT In any situation where you need to make a critical decision, there is always some level of risk – whether you’re working on an internal reorganization or considering a multi-billion dollar acquisition.