Setting Up a Monte Carlo Alternative

In addition to the Operations, Lookback, and Time Series data needed for any alternative, the setup for a Monte Carlo alternative has three other data requirements: input variables, output variables and the Monte Carlo compute "control" settings.

 The input variables determine which model parameters and inputs will be randomly sampled with each Monte Carlo iteration. The output variables are the model results that are of interest to evaluate the response of the reservoir system on the randomly sampled input variables (those one would expect to be impacted by the varied inputs).  The third is the specification of the Monte Carlo iteration scheme and convergence criteria for the analysis. This information can be defined on the three sub-tabs of the Monte Carlo tab in the ResSim Alternative Editor ("Figure: ResSim Alternative Editor - Monte Carlo Tab - Input Variable Sub-Tab").

When a Monte Carlo alternative is run in a ResSim Simulation, it will create and compute new iterations until (a) the convergence criteria is met, or (b) the maximum number of iterations is reached.