Research Article | OPEN ACCESS
Case-Based Reasoning Method in Cost Estimation of Drilling Wells
Hossein Shams Mianaei and Seyed Hossein Iranmanesh
Department of Industrial Engineering, College of Engineering, University of Tehran, Tehran, Iran
Research Journal of Applied Sciences, Engineering and Technology 2013 4:1086-1112
Received: April 27, 2012 | Accepted: May 16, 2012 | Published: February 01, 2013
Abstract
Aim of study is the cost estimation of drilling wells using Case-Based Reasoning (CBR) method which is created based on the viewpoint of using presented solutions for previous solved problems in order to solve new similar problems. In companies or organizations which cost estimation, scheduling, design, planning and project activities sequences and etc., are considered as an iterative activity, project managers naturally use previous experiences in order to estimate the instances mentioned above in new similar case. Thus, offering a comprehensive approach which can support this natural behavior, will significantly contribute to the appropriate decision making. CBR method could be an appropriate tool for decision making in this area. The major findings of this study is that, in the proposed CBR model despite limited data, the error of method according to the performance indicators was very low. Therefore, obtained estimation accuracy of the proposed CBR model is high and the model is useful. On the other hand, given that the available estimation methods spend much time to estimate cost, we could save time using the CBR method and hence the speed of drilling which is very important is increased.
Keywords:
Case Based Reasoning (CBR), cost estimation,
Competing interests
The authors have no competing interests.
Open Access Policy
This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
Copyright
The authors have no competing interests.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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