Making Good Decisions

Making Good Decisions by Reidar B. Bratvold, published by the Society of Petroleum Engineers in January 2010, is a comprehensive guide focused on the complexities of strategic and tactical decision-making in the oil and gas industry. Spanning 207 pages, this book addresses the intricacies involved in making informed choices regarding oil and gas field developments, drilling locations, and company acquisitions, among other critical topics. It draws on best practices and theoretical foundations, reflecting the author’s blend of industry and academic expertise.

Readers will find valuable insights into decision-making processes that involve uncertainty and risk. The book covers essential concepts such as decision-tree analysis, Monte Carlo simulation, and the value of information and flexibility. It serves as a resource for both technical professionals and managers, offering practical advice that can also be applied to personal decision-making scenarios. This edition is presented in English and is designed to enhance the reader’s ability to navigate complex decision situations effectively.