Advanced Decision Analysis with Portfolio and Project Modeling - ADA

Course summary
5 days
4,440 - 5,235 USD
Houston, London
Open / Scheduled

Course description

Advanced Decision Analysis with Portfolio and Project Modeling - ADA

Quality forecasts and evaluations depend upon well-designed project and portfolio models that are based upon clear decision policy, sound professional judgments, and a good decision process. In this course participants learn to build good models. We use the familiar Microsoft Excel spreadsheet as the platform for project and risk assessment models. Add-in software provides Monte Carlo and decision tree capabilities.

The course emphasis is on the evaluation concepts and techniques, rather than particular software programs.

Suitability - Who should attend?

Evaluation engineers, analysts, managers, planners, and economists. This course is intended for professionals involved with developing project evaluation, portfolio, and other forecasting and assessment models. Prior background in decision analysis is expected. Before registering, please visit http://www.decisionapplications.com/ada-pre-read/ to review a course prerequisites list and to take a short self-assessment quiz. You may login using 'ada' (no quotes) as the password.

Training Course Content

Decision Modeling:

  • application of DA process for modeling
  • influence diagrams
  • sensitivity analysis
  • good modeling practices
  • real options overview

Monte Carlo Simulation:

  • multi-pay prospect risking (similar to play analysis)
  • calculating probabilities and distributions with simulation
  • modeling and optimizing investment portfolios
  • valuing added control and flexibility
  • stopping rules
  • ways to model correlation

Decision Tree Analysis:

  • value of information review
  • sensitivity analysis
  • solving with utility for risk aversion

Decision Policy:

  • portfolio optimization to maximize value
  • efficient frontiers
  • multi-criteria decisions
  • risk policy as a utility function
  • expected utility and certain equivalent
  • insurance and hedging
  • optimizing working interests

About provider

PetroSkills - Oil & Gas Training Courses

PetroSkills was founded in 2001 as an alliance between BP, Shell and OGCI, aiming to accomplish a mission of vital importance for the future of the Oil & Gas industry. PetroSkills provide high quality professional training and courses that are...

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Average rating 4.3

Based on 3 reviews

EOR Reservior engineer
It was a great class. I would like to recommend this class to my colleagues.
Oil and Gas Professional
The instructor has a great knowledge and the course is very well organized in the contents.
Senior Geologist
Many thanks to [the instructor] - I had an excellent experience, and better understanding of the subject matter/terminologies among other take-aways.


You will learn how to:

Frame, build, and evaluate decision models and extract key insights; Apply the exponential utility function for risk policy; Design investment portfolio optimization models that include constraints, requirements, and typical interrelationships between projects; Use decision tree software for value of imperfect information analysis; Use Monte Carlo simulation software with optimization; Develop quality Excel models for projects and portfolios

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