ABSTRACT
The oil and gas industry is often concerned with the large number of uncertain parameters. Already in an early phase, several years before production start, the operator must take major decisions regarding concept selection. The difference between good and bad choices can make a difference of billions of dollars. Performance Forecasting methods like Reliability, Availability and Maintenance (RAM) analysis are commonly used in the Oil & Gas Industry in order to forecast performance of a novel or changed system design and to provide decision support with respect to system improvement and optimisation.
