On the diffusion of probabilistic investment appraisal and decision-making procedures in the UK's upstream oil and gas industry

摘要: A critical activity for companies involved in the upstream oil and gas industry is deciding whether or not to invest developing hydrocarbon prospects. Decisions are characterised by combinations of uncertainty incomplete information assembled professionals with different, but highly complementary areas expertise. This paper presents evidence variation among extent which formal appraisal decision-making procedures adopted, and, where manner application. An explanation set out importance senior managers' attitudes tempered limits adaptability organisational routines, processes prominent.