Managing Project Risks In The Oil And Gas Industry

Category: Aci Code Requirements And Specifications For Concrete Design, Construction And Repair Training

Course Description

Objectives

  • To develop key risk management competencies such as developing an appropriate risk process for an organisation in the oil & gas Industry
  • To understand the key roles, responsibilities and activities associated with project risk management
  • To understand how best to apply appropriate tools and techniques to optimise risk management for your projects
  • To deal with the changing nature of risk through a stage gated project process
  • To understand the human side of risk in terms of risk perception
  • To understand the crucial challenges and lessons learned associated with oil and gas project risk management

Course Outline

  • What is risk?
  • What is different about project risk in the Oil and Gas Industry?
  • The dual nature of risk: – threats and opportunities
  • Business, operational and project risk
  • Introducing the risk management process
  • Planning risk management
  • Key risk management roles and responsibilities
  • Good practices adopted in oil and gas organisations
  • Alternative approaches – which is right for your organisation?
  • Risk identification
  • Oil and Gas Industry specific techniques
  • Overview of MAR, LOPA, HAZID HAZOP
  • The ‘Bow Tie’ methodology
  • Tools and techniques for project risk identification
  • Alternative techniques based on team dynamic
  • Sabotage teams
  • Categorisation and the use of Risk Breakdown Structure (RBS)
  • Alternative Risk Analysis assessment formats and recommended practices in the oil and gas industry
  • Qualitative /
  • Semi-Quantitative
  • Quantitative
  • Assessing Impact
  • Organisational / Business impact versus Safety / Environmental impact
  • Tools and techniques for risk analysis
  • Sensitivity Analysis
  • Expected monetary value analysis
  • Further factors to consider – the people side of risk
  • Perception, past experience and mental outlook
  • External factors – regulator activities & the effect of catastrophic incidents in the industry
  • Modelling and Monte Carlo simulation
  • Risk Analysis outputs
  • Risk prioritisation
  • Risk response strategies
  • Action plan formulation
  • Action plan evaluation
  • Analytical evaluation process
  • Appropriate approval / endorsement of action plans
  • Implementing and monitoring
  • Variance and trend analysis
  • Earned value management
  • Implementing response plans – good practices
  • Risk reporting
  • Escalating risks
  • Reserve analysis
  • Embedding the process
  • How to identify and feedback lessons learned
  • Key risk management lessons from the oil and gas industry and megaprojects in particular
  • Applying the lessons and how to implement in my organization