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Decision and Risk Analysis

In Hydrocarbon Exploration and Production


    Learn how to approach modeling decisions and uncertainties in oil and gas project management. This includes risks associated with estimates of hydrocarbon reserves and recovery rates, and economic risks related to investment costs and oil prices. Analyze case studies to see strategies that work for industry leaders. Use software demonstrations to familiarize with analysis tools and practices.


There are no sessions scheduled at this time. For more information about the next class date, please contact us at or 512-471-5893.

What You'll Learn

Gain the information and options available to enhance economic value and manage project risks in the hydrocarbon production industry.

Analyzing risk as it relates to the production of hydrocarbons over the life of an oil field

  • Learn how risks should be incorporated into decision making in oil and gas investments
  • Understand how to frame the decision opportunity (decision hierarchies and strategy tables)


Economic Modeling

  • Model complex projects with influence diagrams
  • Learn how to do deterministic sensitivity analysis (Tornado Diagrams)
  • Develop skills using decision trees as a means of structuring risky problems


Gain the skills to enhance economic value and manage project risks

  • Experience hands-on work with software tools for analysis of risky decisions (Participants will be encouraged to use personal laptops)
  • Managing project risks
  • Enhancing economic value


Attending this Course

  • Individuals

    This course is appropriate for professionals or investors who work in any part of the energy industry.
  • Teams

    Organizations often send pairs or small teams, to support the launch of new initiatives.
  • Requirements & Credit

    There are no prerequisites for this course. Participants earn .70 CEUs for this course, as well as a certificate of completion. Our classes are available for university credit. Please contact us for more information.
Well Rounded Course
Excellent instruction! Great course!
James Dyer Headshot
  • James Dyer

    Dr. James S. Dyer holds the Fondren Centennial Chair in Business in the McCombs School of Business. He served as chair of the Department of Information, Risk, and Operations Management for nine years (1988-97).

Demonstrate Your Expertise with a Certificate

  • Reimbursement Options

    Learn more about course credits and options for course reimbursement. Get tips on the best way to approach your manager and download a customizable template to facilitate making the ask.
  • Course Location

    In person courses take place at the AT&T Executive Education and Conference Center and adjoining Rowling Hall on the UT campus in Austin. These world-class facilities provide a comfortable and convenient learning environment, with direct access to the 40 acres of campus and within walking distance of downtown Austin. Live online and on-demand course options are available for many courses.


Learn more about our Energy course offerings.

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