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Thinking outside of the box - Abraham Wald's Memo

Thinking outside of the box - Abraham Wald's Memo

I love this story - it is the perfect example of thinking outside of the box! The following text is based on MacTutor History of Mathematics archive and Biographies. Abraham Wald Background Abraham Wald Abraham Wald was a mathematician who c ...

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It is about Evolution, not Revolution!

It is about Evolution, not Revolution!

One of the biggest misconceptions about simulation and modelling is that one needs to add all information before getting useful information as a payback. I strongly disagree! It is about Evolution, not Revolution! Models can yield useful informati ...

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Ship and offshore structural engineering and project-collaboration in the cloud

Ship and offshore structural engineering and project-collaboration in the cloud

In DNV GL we are used to work with most kinds of structures both in the design phase, as well as in the operational and decommissioning phase. Operators and contractors are investing a lot into the structures. It is crucial to keep an eye on the stru ...

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Supply Chain Modelling: Shipping and Logistic Operations

Supply Chain Modelling: Shipping and Logistic Operations

One of the key challenges of the oil and gas industry refers to the increasingly complexity of its supply chain. Maros and Taro allow users to take into account key aspects of Supply Chain Modelling: Shipping and Logistics Operations. The demand for ...

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Good Safety practices equal Good business

Good Safety practices equal Good business

Good Safety practices equal Good business: How much does it cost to be lacking the right risk management tools?
...

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Size of the prize ranges $1.4 – 4.2 million via condition monitoring plus RAM analysis

Size of the prize ranges $1.4 – 4.2 million via condition monitoring plus RAM analysis

Today I am going to reproduce an article recently published by our oil and gas division. DNV GL - Oil and Gas has been working together with operators to combine condition monitoring techniques with RAM analysis to unlock the potential of their exi ...

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Life Cycle Cost analysis at the Operational stage

Life Cycle Cost analysis at the Operational stage

In a period with oil prices under pressure, understanding the risks and potential financial impact is essential to ensure a healthy business. With this in mind, life cycle cost analysis plays an important role in assisting estimation of the economic ...

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WOAD - Invaluable information on accidents

WOAD - Invaluable information on accidents

WOAD is a repository of information on accidents occurring in the offshore oil and gas industry. The initiative to start collecting this information began in the mid-1970s. Information on lessons learned serves as invaluable input to help industry un ...

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The Year of RAM

The Year of RAM

Last year, the Chinese Year of the Horse went full speed and left no room for compromise. This week, we moved into the Year of the Ram (analysis) ­– prosperity, apparently, is coming. Also, according to the Chinese horoscope, 2015 is a year to us ...

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Risk and RAM analysis - what is the balance?

Risk and RAM analysis - what is the balance?

Asset management is a science that requires balance. The art of running an asset at its full capacity, with minimum downtime, but in a safe manner is probably one of the biggest challenges in the oil and gas industry nowadays. Several techniques are ...

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