Development of Decision Analysis Specifically for Arctic Offshore Drilling Islands.

The theory and development of decision analysis for alternatives with risks is discussed. A procedure for decision analysis is then developed, by taking advantage of utility and probability theory, and applying this process to Arctic offshore drilling islands. A computer program was written as part...

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Bibliographic Details
Main Author: Balk,David M
Other Authors: TEXAS A AND M UNIV COLLEGE STATION COASTAL AND OCEAN ENGINEERING DIV
Format: Text
Language:English
Published: 1985
Subjects:
Mining Engineering
Civil Engineering
*ISLANDS
*OFFSHORE DRILLING
COMPUTER PROGRAMS
OPTIMIZATION
THEORY
PROBABILITY
COSTS
FORTRAN
SOLUTIONS(GENERAL)
ICE
DECISION THEORY
ARCTIC REGIONS
Arctic
Online Access:http://www.dtic.mil/docs/citations/ADA162299
http://oai.dtic.mil/oai/oai?&verb=getRecord&metadataPrefix=html&identifier=ADA162299
Description
Summary:The theory and development of decision analysis for alternatives with risks is discussed. A procedure for decision analysis is then developed, by taking advantage of utility and probability theory, and applying this process to Arctic offshore drilling islands. A computer program was written as part of an example that compares three man made islands in the Arctic. Consequences of the three alternatives were based on factors such as ice loading, initial costs, transit time, along with six other attributes. The preferences of the design team for nine consequences, along with the likelihood of any single consequence occurring, was evaluated to obtain the optimum solution. Keywords: Caisson-retained islands, FORTRAN.

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