Success in the exploration & production (E&P) industry requires disciplined decision-making in the exploration and appraisal phases, when information is inherently uncertain. Opportunities with the most optimistic (and unrealistic) cost, schedule, and production estimates appear on the surface to be better investments than well-defined opportunities with grounded targets. This optimism bias promotes portfolios where underperforming assets crowd out better developments. IPA’s Opportunity Assessment Toolkit combats this tendency by turning opportunity cost and schedule benchmark data into actionable insights and providing an unbiased assessment you can rely on. Visit here to learn more about the Opportunity Assessment Toolkit.

Accurate conceptual project target-setting is critical to identifying potential business opportunities. Are your targeted outcomes faster, slower, cheaper, or more expensive than other projects with similar characteristics? Compare your early estimates to industry benchmarks to see how your early targeted performance stacks up to competitors.