June 13, 2019


Description

Course description

In the oil & gas industry, it is common for competitors to be partners, and partners to be competitors. This often gives rise to challenging competitive-cooperative dilemmas. For such situations, game theory is the most appropriate yet most underused tool. This one-day course introduces participants to game theory and Strategic Gaming, the leading practical application of game theory in business. Participants learn how to structure and analyze competitive-cooperative dilemmas, including chess-like situations characterized by complex action-reaction dynamics. For such situations, game theory can be used to develop a strategy and complementary tactics that can best influence competitors, partners, and other stakeholders to gain alignment or competitive advantage. The course reviews the fundamentals of game theory and of Strategic Gaming with classroom-style training in the morning, and in the afternoon, participants work in teams on a hypothetical but realistic oil & gas case.

The course is most appropriate for those in commercial roles or who work on projects with commercial issues. Those with an interest in decision analysis will find the class to be a valuable extension of traditional decision analysis. However, knowledge of decision analysis is not a prerequisite.

Participants should bring a laptop computer with Excel, if practical.

 

Book Included

 

Agenda

Begin

End

Duration

Topic

8:30 AM

8:45 AM

15

Class overview

8:45 AM

9:15 AM

30

What is game theory? Where is it applicable and why is it important?

9:15 AM

9:30 AM

15

Applying game theory in business: Strategic Gaming

9:30 AM

10:00 AM

30

Game trees and framing

10:00 AM

10:15 AM

15

Break

10:15 AM

11:15 AM

60

Evaluation of games

11:15 AM

11:30 AM

15

Beyond 35,000-foot strategy: tactics and contingent planning

11:30 AM

12:00 PM

30

Case examples

12:00 PM

12:45 PM

45

Lunch

12:45 PM

1:00 PM

15

Case introduction

1:00 PM

4:00 PM

180

Case exercise (in teams)

4:00 PM

4:30 PM

30

Closing discussion

 


Featured Speakers

Speaker: Paul Papayoanou, PH.D.
Speaker Paul Papayoanou, PH.D.
Dr. Paul Papayoanou is the founder and Managing Director of Dragonfly. He earned a Ph.D. from UCLA and initially pursued a career in academia, working as a professor at the University of California, San Diego and at Harvard University, doing research and teaching in international relations, political economy, and game …

Dr. Paul Papayoanou is the founder and Managing Director of Dragonfly. He earned a Ph.D. from UCLA and initially pursued a career in academia, working as a professor at the University of California, San Diego and at Harvard University, doing research and teaching in international relations, political economy, and game theory. He then left academia to start a strategy consulting practice that specialized in applying Strategic Gaming, a novel and practical game theory approach for business strategy and negotiations that he developed, as well as decision analysis. In his 18-year consulting career with Strategic Decisions Group, SGG, and Shell, he has worked on more than 150 strategy and negotiation engagements, helping large and small companies in oil and gas, power, alternative energy, the life sciences, technology, manufacturing, consumer goods, financial services, and other industries to capture billions of dollars in value. He also spearheaded efforts to improve decision-making throughout Shell’s global organization as the lead subject matter expert in game theory, decision analysis, and decision quality. In addition to game theory and decision analysis, he is adept at applying real options, wargaming, and political risk analysis.


 


Dr. Papayoanou is a Fellow of the Society of Decision Professionals and the author of Game Theory for Business, as well as several articles in business publications. He has lectured on game theory and business at Harvard Business School, the Jones Graduate School of Business at Rice University, Stanford University, Texas A&M, The George Washington University, and Virginia Tech, and has delivered presentations and training to over a thousand business professionals, as well as political and governmental leaders. As a professor, he wrote Power Ties and numerous articles that have appeared in academic journals, and he co-edited and contributed to New Games, a special issue of The Journal of Conflict Resolution.

Full Description



Organizer

Mike Redburn

281-754-8629         Direct


307.214.7518           Cell


mredburn@newpark.com


 


Date and Time

Thu, June 13, 2019

8:30 a.m. - 4:30 p.m.
(GMT-0500) US/Central

Event has ended

Location

SPE Training room

10777 Westheimer Suite 1075
Houston, Texas 77042
United States of America