This paper summarizes a project evaluation methodology developed and implemented by Petro-Canada Resources. The two key objectives of the methodology were to improve the technical quality and consistency of evaluations, and to develop measures that would facilitate risk comparisons among different projects. The paper includes a discussion of the actual methodologies and measures, and the implementation process used in introducing the methodology to the organization.

Keywords:
risk assessment methodology, asset and portfolio management, business unit, project valuation, information, coaching, implementation, risk assessment, decision analysis process, consistency
Subjects:
Asset and Portfolio Management, Risk Management and Decision-Making, Information Management and Systems, Project economics/valuation, Risk, uncertainty, and risk assessment, Decision-making processes
Copyright 1993, Society of Petroleum Engineers
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