Risk Assessment and Risk Management for Oil and 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.

Using a mixture of presentations, discussions and practical exercises related to the Oil and Gas industry, this course addresses these issues in a concise and pragmatic manner.

Objectives

• 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.

Content

Day One

Getting Started

• 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

Day Two

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

Day Three

Risk Analysis

• Qualitative Risk Analysis
• Quantitative Risk Analysis

Day Four

Risk Responses & Managing Risks

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

Day Five

Reporting Risk Management Outcome

• Creating an Oil & Gas Risk Questionnaire
• Risk evaluation
• Risk evaluation report
• Course evaluation