Strategic Planning for Exploration Management

1. Introduction.- Changes in Economic Environment of the Oil Industry.- Exploration Viewed as Business Rather than as a Function.- Reference.- 2. Strategic Planning Overview.- What is Strategic Planning?.- Structure of Strategic Planning and Policy Formation.- Adaptations to Meet the Needs of Diverse Businesses.- Where Strategic Planning Has Failed and Why.- Making Strategic Planning Work.- Top Down and Bottom Up.- References.- Further Readings.- 3. Traditional Exploration Strategies.- The View of Individual Explorationists.- The View of Exploration Managers.- The View of Land Managers.- The View of Operational Managers.- The View of International Explorationists.- Summary.- 4. Examining the Environment.- Environmental Analysis.- Social Risk Assessment.- Situation Audit.- Competitor Analysis.- Summary of Environmental Analysis.- References.- 5. Strategic Analysis: Risk Methods.- Incompleteness of Expected Value Analysis.- Viability Analysis.- Example Viability Analysis.- Risk Sharing Techniques.- Viability as a Measure of Risk for Planning.- The Portfolio Approach.- References.- 6. Strategic Analysis: Strategy Modeling.- Diversity of Exploration Approaches.- The Need for Strategic Modeling.- Forecasting Future Discovery Rates.- Simulating Exploration Strategies.- References.- 7. Avoiding Planning Pitfalls.- Forecasting versus Planning.- Proper Use of Risk Analysis in Planning.- Communication Gap in Planning.- Planning Guidelines.- The Planners Role.- The Managerial Role.- References.- 8. Conclusions.- Scenario Generation.- Attainable Objectives, Goals, and Strategies for Operational Management.- Controls and Incentive Systems.- Flexibility of Strategies.- Summation.- References.- Appendix A: The Petroleum Data System.- Appendix B (part I): Exploration Analysis Using Petroleum Information’s Computer Data Bases.- Appendix B (part II): Petroleum Information Integrated On-Line Data Base System.- Appendix C: Social Risk Management.