Project Risk Management in the Oil and Gas Industry

Course Info

Length: 1 Week

City: Kuala Lumpur

Type: In Classroom

Available Dates

  • Mar-04-2024

    Kuala Lumpur

  • Apr-01-2024

    Kuala Lumpur

  • May-06-2024

    Kuala Lumpur

  • June-03-2024

    Kuala Lumpur

  • July-01-2024

    Kuala Lumpur

  • Aug-05-2024

    Kuala Lumpur

  • Sep-02-2024

    Kuala Lumpur

  • Oct-07-2024

    Kuala Lumpur

  • Nov-04-2024

    Kuala Lumpur

  • Dec-02-2024

    Kuala Lumpur

Dates in Other Venues

  • Mar-04-2024

    Istanbul

  • Mar-11-2024

    Paris

  • Mar-11-2024

    Singapore

  • Mar-18-2024

    Dubai

  • Mar-18-2024

    Barcelona

  • Mar-25-2024

    London

  • Mar-25-2024

    Amsterdam

  • Apr-01-2024

    Istanbul

  • Apr-08-2024

    Singapore

  • Apr-08-2024

    Paris

  • Apr-15-2024

    Barcelona

  • Apr-15-2024

    Dubai

  • Apr-22-2024

    Amsterdam

  • Apr-29-2024

    London

  • May-06-2024

    Istanbul

  • May-13-2024

    Paris

  • May-13-2024

    Singapore

  • May-20-2024

    Barcelona

  • May-20-2024

    Dubai

  • May-27-2024

    London

  • May-27-2024

    Amsterdam

  • June-03-2024

    Istanbul

  • June-10-2024

    Paris

  • June-10-2024

    Singapore

  • June-17-2024

    Dubai

  • June-17-2024

    Barcelona

  • June-24-2024

    Amsterdam

  • June-24-2024

    London

  • July-01-2024

    Istanbul

  • July-08-2024

    Singapore

  • July-08-2024

    Paris

  • July-15-2024

    Barcelona

  • July-15-2024

    Dubai

  • July-22-2024

    Amsterdam

  • July-29-2024

    London

  • Aug-05-2024

    Istanbul

  • Aug-12-2024

    Singapore

  • Aug-12-2024

    Paris

  • Aug-19-2024

    Barcelona

  • Aug-19-2024

    Dubai

  • Aug-26-2024

    Amsterdam

  • Aug-26-2024

    London

  • Sep-02-2024

    Istanbul

  • Sep-09-2024

    Paris

  • Sep-09-2024

    Singapore

  • Sep-16-2024

    Barcelona

  • Sep-16-2024

    Dubai

  • Sep-23-2024

    Amsterdam

  • Sep-30-2024

    London

  • Oct-07-2024

    Istanbul

  • Oct-14-2024

    Paris

  • Oct-14-2024

    Singapore

  • Oct-21-2024

    Barcelona

  • Oct-21-2024

    Dubai

  • Oct-28-2024

    London

  • Oct-28-2024

    Amsterdam

  • Nov-04-2024

    Istanbul

  • Nov-11-2024

    Singapore

  • Nov-11-2024

    Paris

  • Nov-18-2024

    Dubai

  • Nov-18-2024

    Barcelona

  • Nov-25-2024

    London

  • Nov-25-2024

    Amsterdam

  • Dec-02-2024

    Istanbul

  • Dec-09-2024

    Singapore

  • Dec-09-2024

    Paris

  • Dec-16-2024

    Dubai

  • Dec-16-2024

    Barcelona

  • Dec-23-2024

    Amsterdam

  • Dec-30-2024

    London

Course Details

Course Outline

5 days course

 

Fundamental Project Risk Management Concepts
 
  • 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.

 

Roles & Responsibilities and Identifying Risks
 
  • 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

  • Alternative techniques based on team dynamic

                - Sabotage teams

  • Categorisation and the use of Risk Breakdown Structure (RBS)

 

Risk Analysis Techniques

 

  • Alternative Risk Analysis assessment formats & recommended practices in the oil & gas industry

                      - Differences between Qualitative, Semi-Quantitative and 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
  • An overview of Modelling and Monte Carlo simulations
  • Risk Analysis outputs

 

Planning Risk Responses and Implementing Risk Responses
 
  • Risk prioritisation
  • Risk response strategies
  • Action plan formulation / evaluation
  • Appropriate approval / endorsement of action plans
  • Implementing and monitoring
  • Earned value management
  • Reserve Analysis
  • Implementing response plans – good practices)

 

 

Reporting and Communicating Risk, Extracting Lessons & Lessons Learned
 
  • Risk reporting
  • Escalating risks
  • Embedding the risk management 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 an organisation

Course Video