Project Economics and Decision Analysis, Volume 2: Probabilistic Models

In Volume 2: Probabilistic Models, author M. A. Mian presents the concepts of decision analysis, incorporating risk and uncertainty as applied to capital investments. In the expanded and updated second edition of Volume 2, Mian integrates new advancements and clarifies concepts to facilitate their understanding. Each topic is introduced, followed by a brief discussion related to its application in practice and a solved example. Includes a companion CD with applications, spreadsheets, and tables that expand the practical application of the book's material.

M. A. Mian is a registered professional engineer in the State of Colorado and a member of the Society of Petroleum Engineers. He earned a B.SC. in Mechanical Engineering, a M.SC. in Petroleum Engineering, and a M.SC. in Mineral Economics, all from the Colorado School of Mines. He has authored many journal articles, produced three petroleum engineering software packages, and is the author of Petroleum Engineering Handbook for the Practicing Engineer(PennWell, 1992). He has more than 20 years of practical experience in all areas of the upstream petroleum industry, including reservoir engineering, log analysis, drilling, project economic evaluation, contracts administration, and long-term strategic planning and has taught seminars on various subjects in the industry.