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Title: Cost Benefit Analyses In The Design Of Allocation Systems
Author: Phillip Stockton
Source: 2009 North Sea Flow Measurement Workshop
Year Published: 2009
Abstract: This paper considers issues pertaining to the costs of the implementation of measurement systems, e.g. to reduce uncertainty, against the benefits accrued by a reduction in exposure to loss of revenue in allocation systems. Statistical based techniques are presented to assess the risk of loss of revenue. In Section 2 these issues and methods are discussed and illustrated with simplified theoretical examples. The discussion is principally in terms of flow meters but the issues can equally be extended to any measurements used as inputs to allocation. Indeed in Section 3 the techniques are applied to data from a real system in which the cost savings accrued from a reduction in compositional sampling frequency were compared with the potential impacts on the allocation system.

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