Abstract: The present disclosure relates to dynamically incorporating and economically validating drilling decisions. A computer system having a memory and central processing unit is provided and a knowledge store residing in the computer system is populated with data. The data may include surface drilling parameter data, bottomhole assembly data, bit records, measurement-while-chilling data, logging-while-drilling data, drilling event data, and lessons learned data. The data may be correlated data from one or more offset wells. One or more computerized static or dynamic contextual earth models are provided and used to dynamically incorporate and economically validate the drilling decisions. The one or more earth models can be updated in real-time.