Project Risk Management for Oil and Gas


Instructor : Derek Bell – Derek Bell & Association  (view profile)

Upcoming Session : Offer for In-House Training Only

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What is the programme about?

Risk management is a core skill which needs to be carried out more effectively than ever before due to the scrutiny that our activities are placed under on a daily basis. Given the scale, global nature and value of projects in the Oil and Gas industry, this requirement is particularly relevant. Recent environmental disasters, geo-political situations and economic instability have increasingly highlighted the need for applying a risk aware structure to all your projects to manage and control your risks, and mitigate against resultant impacts.

This interactive and challenging workshop provides an opportunity to understand how best to protect value in the capital intensive project environment that we work in. The course is designed to enable practical lessons from the industry to be learnt and applied in a supportive environment to enhance the knowledge and capabilities of each participant.

The expert programme director will review the risk process and how best to apply it over the full project lifecycle. Techniques for identifying, analysing, planning risk responses, and monitoring and controlling risks will be explored and practiced. At all times being mindful of the need for sound health, safety, environmental and reputational factors to be properly managed from the risk perspective.

Key learning points include

  • Core concepts and principles of risk management unique to Oil and Gas Industry projects
  • Risk identification and measurement of industry specific risks including geo-political, environmental and economics
  • Applying a systematic project risk management process to a realistic industry project case study
  • Alternative  risk  identification  techniques  and  their  strengths  and applicability
  • Evaluation of resource effectiveness of alternative responses
  • Key  lessons  and  critical  success  factors  for  successful  project  risk management the Oil and Gas Industry

Unique Industry Case study

Projects in the oil and gas industry bring with them very specific challenges; not only due to their size and scale, but also due to the diverse objectives of the parties involved and the geographic, political and economic factors that are a constant and u npredictable influence. It is vital that you understand the risks and their impact at each stage of the project. Therefore a unique case s tudy has been developed specifically for this programme to illustrate the entire project lifecycle of an oil and gas industry project. The participants will work in groups to apply the key learnings to each stage of the project and gain full and thorough understanding of the key pressure points and how to manage, control and mitigate against them.

Who Should Attend?

This programme is essential to the following roles:

  • Project Managers, Project Engineers
  • Risk Managers and those with specific risk responsibilities
  • Project sponsors and managers
  • Purchasing and procurement managers who will be supporting projects
  • Contractors and consultants contributing to projects
  • Operational staff who need to interface with projects or represent the operational perspective on a project
  • HSE staff interfacing with project activities
  • Governance and auditors who will be reviewing or auditing project performance
  • Anyone who needs to contribute to managing risk

Who will benefit?

This highly practical and interactive programme will allow you to:

  • Review the strategic drivers within the Oil and Gas industry which determine how we should be tackling risk management for our projects
  • Understand why oil and gas projects fail and how to avoid this within your own activity
  • Get to grips with key steps to setting up a sound risk management process for any project
    • Evaluate the key factors which drive project risk management success and the vital need for a multi-disciplinary team to provide alternative perspectives
  • Compare best practice with colleagues from across the global industry
    • Learn in a dynamic, highly interactive and practical environment that will provide you with skills and knowledge to improve your personal and project performance
    • Examine and identify any weaknesses in your current project risk management processes and how to set up appropriate changes and required governance to counteract those shortcomings