Operators cannot be complacent about technical risk!  Non-technical risks are easier for analysts to identify, and they can indeed make business difficult (i.e. budgetary pressures in uncertain macroeconomic environments, regulatory hurdles, and commercial/logistical challenges in developing markets), but ...

​

robust decision-making ultimately requires a robust assessment of technical risk.   

 

Studies show that suboptimal front-end engineering leads to significant value erosion for major projects.  Over-capitalized projects generate disappointing returns; under-capitalized projects require costly retro-fit.  Phased projects with development optionality often generate the best returns.

​

Opportunity Screening, Concept Selection, Project Execution