Merak Decision Tool Kit
The Merak Decision Tool Kit* course provides an overview of risk analysis within the complexity and uncertainty of the global oil and gas industry. This course covers decision analysis using Merak Decision Tool Kit. Using deterministic and probabilistic approaches, you can compare opportunities and quantify your risk and uncertainty.
In this course, you learn how to use the Merak Decision Tool Kit components to create tornado diagrams and build a decision tree for a new drilling program. You analyze the risk exposure at the asset and corporate level, as well as assess the value of investments.
- Overview of the decision analysis process
- Use tornado charts and the Merak Peep application to build a decision tree
- Model simple decisions
- Create complex decision trees
- Explore dependent probabilities
- Learn about the value of information
Anyone seeking to learn effective use of the Merak Decision Tool Kit software
Merak Peep Fundamentals and an understanding of basic risk analysis concepts such as sensitivity analysis and expected value