4.1. Inception: An Analogy
In the oil business, when a new field is being considered, some of the steps include:
1. | Decide if there is enough evidence or a business case to even justify exploratory drilling. |
2. | If so, do measurements and exploratory drilling. |
3. | Provide scope and estimate information. |
4. | Further steps... |
The inception phase is like step one in this analogy. In step one people do not predict how much oil there is, or the cost or effort to extract it. It is premature—there is insufficient information. Although it would be nice to be able to answer “how much” and “when” questions without the cost and effort of the exploration, in the oil business it is understood to not be realistic.
In UP terms, the realistic exploration step is ...
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