Managing Project Risks in the Oil & Gas Industry

Course Code: OG04

Course Objective

  • 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.


Target Audience

  • Project Management Team members
  • Operations Managers
  • Project Managers
  • Oil and Gas Enterprise Architects


Course Outline

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

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Date & Location

Date : 17 March 2019

Duration : 5 days

Place : Kuala Lumpur

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Date : 27 October 2019

Duration : 5 days

Place : Istanbul

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