Traditionally, polymers have been used in waterfloods to address an adverse mobility ratio. However, polymer gel processes can also reduce permeability variation in heterogeneous reservoirs, resulting in a more uniform flood front and improved recovery efficiency. Forecasting the economics of a polymer process and selection of the appropriate polymer technology are fundamental to project success. This report offers a methodology for assessing the economic risk of two variables critical to waterflood performance: injection efficiency and permeability variation. Also, an economic model that compares a conventional waterflood, a polymer enhanced waterflood and a waterflood utilizing colloidal dispersion gels (CDG's) demonstrates an objective approach to project selection.