Bias in Engineering Estimation: A Case Study
Abstract/Contents
- Abstract
- Data from 40 offshore oil and gas production platforms in the Gulf of Mexico have been analyzed for bias, using several statistical and mathematical measures. Significant bias was found in several of the variables. The biases were the result of what could be best described as an optimistic estimation process, with timing and costs underestimated, while production and reserves were overestimated. Computer modeling of the platform economics showed the biased to have a large effect on the economics of an average project. Several possible causes of and cures for the biases are suggested. The effect of bias on the operation of a company is discussed.
Description
| Type of resource | text |
|---|---|
| Date created | September 1980 |
Creators/Contributors
| Author | Brush, Randal Moorman |
|---|---|
| Primary advisor | Marsden, Jr., Sullivan S. |
| Degree granting institution | Stanford University, Department of Petroleum Engineering |
Subjects
| Subject | School of Earth Energy & Environmental Sciences |
|---|---|
| Genre | Thesis |
Bibliographic information
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- User agrees that, where applicable, content will not be used to identify or to otherwise infringe the privacy or confidentiality rights of individuals. Content distributed via the Stanford Digital Repository may be subject to additional license and use restrictions applied by the depositor.
Preferred citation
- Preferred Citation
- Brush, Randal Moorman. (1980). Bias in Engineering Estimation: A Case Study. Stanford Digital Repository. Available at: https://purl.stanford.edu/hb137bm0691
Collection
Master's Theses, Doerr School of Sustainability
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- brannerlibrary@stanford.edu
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