This document discusses private versus public cost-benefit analysis in scheduling petroleum projects under uncertainty. It presents deterministic and stochastic examples comparing different scheduling approaches (S, L, and M) and how they are impacted by uncertainty and risk attitudes. It argues that accounting for uncertainty and risk in a stochastic optimization framework provides more accurate cost-benefit assessments than deterministic analyses and better informs public policy and industry decisions.
Presentation by Prof. George Gray, Director of the Centre for Risk Science and Public Health, George Washington University, at the Workshop on Risk Assessment in Regulatory Policy Analysis (RIA), Session 5, Mexico, 9-11 June 2014. Further information is available at http://www.oecd.org/gov/regulatory-policy/
Cost Benefit Analysis (CBA) has proven to be a useful tool to support the economic appraisal of important projects in many sectors. Recently, a single CBA method has been proposed at EU level to evaluate and compare electricity transmission and storage projects from different countries, which is unprecedented anywhere in the world.
The European Commission estimates that about €200 billion needs to be invested in electricity and gas infrastructure in order to achieve the 2020 energy and climate objectives. There is a risk that almost half of this expected investment will be too late or not at all. The Energy Infrastructure Package therefore establishes a process to identify Projects of Common Interest whose development will be accelerated. Projects of Common Interest will be selected based on a Cost Benefit Analysis method.
In a recent THINK report for the European Commission (DG Energy), we conclude that the Cost Benefit Analysis method that has been proposed by the European Network of Transmission System Operators for Electricity (ENTSO-E) at the end of 2012 is an important step in the right direction, but it is still possible to improve.
Presentation by Prof. George Gray, Director of the Centre for Risk Science and Public Health, George Washington University, at the Workshop on Risk Assessment in Regulatory Policy Analysis (RIA), Session 5, Mexico, 9-11 June 2014. Further information is available at http://www.oecd.org/gov/regulatory-policy/
Cost Benefit Analysis (CBA) has proven to be a useful tool to support the economic appraisal of important projects in many sectors. Recently, a single CBA method has been proposed at EU level to evaluate and compare electricity transmission and storage projects from different countries, which is unprecedented anywhere in the world.
The European Commission estimates that about €200 billion needs to be invested in electricity and gas infrastructure in order to achieve the 2020 energy and climate objectives. There is a risk that almost half of this expected investment will be too late or not at all. The Energy Infrastructure Package therefore establishes a process to identify Projects of Common Interest whose development will be accelerated. Projects of Common Interest will be selected based on a Cost Benefit Analysis method.
In a recent THINK report for the European Commission (DG Energy), we conclude that the Cost Benefit Analysis method that has been proposed by the European Network of Transmission System Operators for Electricity (ENTSO-E) at the end of 2012 is an important step in the right direction, but it is still possible to improve.
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EY presented at the 22 World Petroleum Congress, focusing on the impact of the lower oil price on LNG megaprojects, the opportunities and challenges to adopt new practices to make megaprojects more cost effective.
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For full text article go to : http://www.educorporatebridge.com/risk-management/risk-management-process/ This article on Risk Management Process outlines the important steps involved in this process and explains them in detail.
Presentation at DOAG 2015 about release management in integration projects In complex system landscapes a consistent release management is necessary to ensure the robustness of the system and also in the long run be able to react agile to changing demands. Automated testing, builds and deployments are in this regard for a long time state-of-the-art. In loosely coupled integration architectures this is equally important, and due to the high degree of distribution of the relevant systems and components correspondingly complex. As the challenges arising in this connection can be mastered in a real project, is to be shown in this presentation. As a central component of the integration Oracle Service Bus was used.
EY presented at the 22 World Petroleum Congress, focusing on the impact of the lower oil price on LNG megaprojects, the opportunities and challenges to adopt new practices to make megaprojects more cost effective.
Climate Technology Transfer supported through Linked Data A Proof of Concept ...Martin Kaltenböck
Presentation: Climate Technology Transfer supported through Linked Data A Proof of Concept for The Climate Technology Centre and Network (CTCN) - by Eelco Kruizinga (DNV GL) and Martin Kaltenböck (SWC) at the Linked Data Netherlands Conference on 29 September 2015 in Hilversum, NL.
An overview of the status quo, prospects and outlook of market mechanisms NewClimate Institute
Carsten Warnecke of NewClimate Institute presents at COP 21 on "The status quo, prospects and outlook of market mechanisms". Wednesday, 2 December, 12.00, German Pavilion.
Private vs. Public Cost-Benefit in Scheduling Petroleum projects - The case of uncertainty
1. Private vs. Public Cost-benefit in Scheduling
Petroleum projects - The case of Uncertainty
14.06.01
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Table of Contents
Author: Kjetil Haugen
Private vs. Public Cost-benefit in Scheduling
Petroleum projects - The case of Uncertainty
Email: Kjetil.Haugen@himolde.no
Home Page: http://home.himolde.no/~haugenk
Content:
Petroleum Project Scheduling:
PPS - status in Norway:
A simple deterministic example
Parameters define PPS-solution
A new alternative: M
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2. M against S and L:
M against S and L:
A simple stochastic example
Stochastic optimization problem
Solution:
A simplified stoch. opt. problem
Finally:
What has happened:
A few final notes: 1) Uncertainty
Implications - Petroleum industry
Public vs. Private Cost-benefit
Risk attitude:
Support structure: (probabilities)
Support influence:
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