METHOD SYSTEM AND PROGRAM STORAGE DEVICE FOR AUTOMATICALLY CALCULATING AND DISPLAYING TIME AND COST DATA IN A WELL PLANNING SYSTEM USING A MONTE CARLO SIMULATION SOFTWARE

A method of generating and displaying time and cost data representing the time and the cost to complete a plurality of oilfield related activities in response to a set of engineering results including wellbore geometry and drilling parameters comprises the steps of: (a) assembling a plurality of time data and a plurality of cost data based on the engineering results in response to a plurality of activity templates; and (b) generating a display of the time data and the cost data, the display illustrating the time data and the cost data representing the time and the cost to complete the plurality of oilfield related activities. The display includes a numerical display and a graphical display.