Decision-Making Using an Integrated Evaluation Model Versus Sensitivity Analysis and Monte Carlo Simulation
- Organization:
- Canadian Institute of Mining, Metallurgy and Petroleum
- Pages:
- 11
- File Size:
- 3804 KB
- Publication Date:
- May 1, 2007
Abstract
This paper compares an integrated evaluation approach to decision-making with more traditional sensitivity analysis and Monte Carlo simulation. The primary objective is to highlight the differences in NPV that can arise from using these evaluation methods in a top down and bottom-up approach. Results from three resource scenarios, derived from sampling a "virtual" ore body (reality) on grid spacings of 75m, 50m and 25m, are analyzed and compared.
Citation
APA: (2007) Decision-Making Using an Integrated Evaluation Model Versus Sensitivity Analysis and Monte Carlo Simulation
MLA: Decision-Making Using an Integrated Evaluation Model Versus Sensitivity Analysis and Monte Carlo Simulation. Canadian Institute of Mining, Metallurgy and Petroleum, 2007.