Building on knowledge accumulated over many years regarding measurement systems, uncertainty theory, present value analyses and optimization methodology, a research platform for allocation systems was built in this project.
The research platform is a cost-benefit analysis framework utilizing an "uncertainty brain" based upon system modeling and Monte Carlo simulation that can be used to answer relevant questions related to field and ownership allocation uncertainty.
Key questions that can be answered are:
- Which measurement setup best balances financial risk and costs?
- How is risk distributed between owners?
- Which allocation methodology provides the most "fair" distribution of uncertainty in a life-cycle perspective?
- How does the uncertainty and risk develop during the lifetime of the field?
