This paper describes an asset-management-analysis process that helps to quantify and manage uncertainty associated with field-development design, implementation, and operation. The risk-based integrated production model (RIPM) process is based on the principles of integration, quantification, and validation to define uncertainty in total-system performance and the associated economic impact of each delineated scenario. This process provides a more robust understanding of the risks and potential value of the prospective enterprise on an ongoing basis.