Interviews have been conducted with decision-makers in most of the operating companies active in the UK North Sea. The data generated by these interviews defines industry current capability in decision analysis. The extent to which each company uses the techniques which comprise current capability defines a rank list representing relative level of sophistication in decision analysis. This rank list is then correlated with other rank lists based on common measures of business performance to establish the value, to companies, of adopting best (or, at least, better) practice in decision analysis. The strong positive correlation found indicates a considerable incentive for companies to upgrade their decision analysis capability.

You can access this article if you purchase or spend a download.