A sensitivity analysis study evaluates uncertainties in a model’s output based on the changes in the input parameters of the model.
A sensitivity analysis study evaluates uncertainties in a model’s output based on the changes in the input parameters of the model. A good sensitivity analysis model1 should have the following properties:
Adaptability to scale and shape. It is important to consider both the range of variation of the input and the form of its probability density function when determining the influence on the output.
It should include the effect of variation of all parameters on the output, which would provide a more multi-dimensional approach to the analysis.
The ability to be model independent. Models can be additive or linear, and the method should work regardless.
Allowing grouped parameters to be tr
Log in to view this article.
Not Yet A Subscriber? Here are Your Options.
1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Hydrocarbon Processing magazine.
2) SUBSCRIBE to Hydrocarbon Processing magazine in print or digital format and gain ACCESS to the current issue as well as to 3 articles from the HP archives per month. $409 for an annual subscription*.
3) Start a FULL ACCESS PLAN SUBSCRIPTION and regain ACCESS to this article, the current issue, all past issues in the HP Archive, the HP Process Handbooks, HP Market Data, and more. $1,995 for an annual subscription. For information about group rates or multi-year terms, contact J'Nette Davis-Nichols at Jnette.Davis-Nichols@GulfEnergyInfo.com or +1 713.520.4426*.
*Access will be granted the next business day.