Mitigating Bias, Blindness, and Illusion in E&P Decision Making

Decisions in E&P ventures are affected by bias, blindness, and illusions which creep into our analyses and interpretations. This one to two day course examines the influence of these distortions and presents techniques that can be used to mitigate their impact. Bias refers to errors in thinking whereby interpretations and judgments are drawn in an illogical fashion. Blindness is the condition where we fail to see an unexpected event in plain sight. Illusions are misleading beliefs based on a false impression of reality. All three can lead to poor decisions regarding which work to undertake, what issues to focus on, and whether to forge ahead or walk away from a project.