Value of Information and Flexibility - Making Decisions Under Uncertainties (Paperback, 1st ed. 2022)

This book presents a consistent methodology for making decisions under uncertain conditions, as is almost always the case. Tools such as value of information and value of flexibility are explored as a means to make more complex and nuanced decisions. The book develops the complete formalism for assessing the value of acquiring information with two novel approaches. Firstly, it integrates the fuzzy characteristics of data, and secondly develops a methodology for assessing data acquisition actions that optimize the value of projects from a holistic perspective. The book also discusses the formalism for including flexibility in the project decision assessment. Practical examples of oil- and gas-related decision problems are included and discussed to facilitate the learning process. This book provides valuable advice and case studies applicable to engineers, researchers, and graduate students, particularly in the oil and gas industry and pharmaceutic industry.

General

Imprint:	Springer Nature Switzerland AG
Country of origin:	Switzerland
Series:	Petroleum Engineering
Release date:	October 2022
First published:	2022
Authors:	Martin J. Vilela • Gbenga F. Oluyemi
Dimensions:	235 x 155mm (L x W)
Format:	Paperback
Pages:	280
Edition:	1st ed. 2022
ISBN-13:	978-3-03-086991-5
Categories:	Books > Reference & Interdisciplinary > Communication studies > Decision theory > General Books > Business & Economics > Business & management > Management & management techniques > Operational research Promotions
LSN:	3-03-086991-1
Barcode:	9783030869915

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