Managing Risks Effectively Now Critical for Efficiency
The oil and gas industry has always been a competitive arena, in which handling risks effectively has now become critical for business efficiency. The effect of risks on project costs should be carefully quantified in order to implement efficient measures to mitigate these risks.
Real Options Should Be a Part of Our Thinking
Charles Osborne of BP diseases the role that real options can play in managing risk.
A Risky Business
Young professionals examine questions surrounding two risk-related topics—risk perception and the value of risk analysis.
Some Challenges for Monte Carlo Simulation
Monte Carlo simulation is the principal analytical tool of risk analysis. Its direct objective is always to estimate the range of something [e.g., reserves, project cost, business unit annual production, net present value (NPV), rate of return].
Be a Risk Taker
A conversation with Tricia Stephens, who recommends getting out of your comfort zone.
Life Is a Risky Business—How To Reduce the Downside
Bill Robb, Managing Director of Profit Improvers Ltd., offers six steps for assessing business, career, and relationship risks.
“It’s the Economy, Stupid.” Or Is It?
Editor Thomas Bruni assesses whether the oil industry is risky after all.
12 February 2018