Risk Management for Oil & Gas Projects

Introduction:

Because of increased pressure to deliver projects on time, within budget, and with the agreed components, the need to identify, manage, and control the project-based risks becomes central to success. Project Managers need to use tried and accepted techniques for managing identified risks and have access to practical strategies for dealing with issues as they emerge

Targeted Groups:

• Project Management Team members
• Operations Managers
• Project Managers
• Oil and Gas Enterprise Architects
• Asset Managers
• Maintenance Managers
• Maintenance & Reliability Engineers
• Technical managers & supervisors
• Board level executives and non-executives
• Consultants in Project, Asset, Maintenance and Risk Management

Course Objectives:

At the end of this course the participants will be able to:

• Use practical steps and processes to manage project risk
• Identify threats & opportunities & weigh their relative value in a project
• Control multiple risks using limited strategies
• Overcome psychological barriers to risk in stakeholders & team members
• Evaluate risk assessment & risk management during the project closure phase of the project

Targeted Competencies:

• Project management and risk assessment in the oil and gas industry
• Setting criticality analysis and priorities for different assets
• Performance of root cause analysis
• Managing performance of assets
• Learning from major failures in different industries

Course Content:
Unit 1: Introduction to Organisational Risk:

• Pro’s and con’s of risk management
• Practical experience with risk assessment & risk management in various industries
• Risk Management throughout a project life cycle
• Methods to increase company-wide awareness, understanding & senior-level support
• Risk Management at various levels of an organization
• Business Risks VS Technical Risks VS Implementation Risks

Unit 2: The Risk Management Process Wheel & Identifying Risk:

• Proactive Risk Management Process
• The risk management process wheel
• The risk register
• Risk Management Planning
• Risk Identification
• Risk Identification tools & Techniques

Unit 3: Risk Analysis:

• Qualitative risk analysis
• High-Reliability Organisations (HROs)
• The risk matrix
• Decision Making Grid (DMG)
• Quantitative Risk Analysis (QRA)
• Fault Tree Analysis (FTA) and Reliability Block Diagrams (RBD)

Unit 4: Risk Responses & Managing Risks:

• Risk Response planning
• Building a Risk Management Plan
• Calculating risk management budget
• Monitoring & Reviewing
• Opportunity Assessment
• Project Execution Risk Assessment

Unit 5: Reporting Risk Management Outcome:

• What makes a bad report?
• What makes a good report?
• Creating an oil & gas risk questionnaire
• Risk evaluation
• Risk evaluation report