|PM126||01 - 05 Sep 2019||Dubai - UAE||4,950|
*All fees are exclusive of VAT
Why Choose this Training Course?
Risk management is an integral part of day-to-day business activities in many industries and the offshore & marine industry brings along its own inherent areas of risks - ranging from non-compliance of assets and in accordance with legislative bodies, major cost or schedule overruns for projects, asset safety, asset damage, business interruption, pollution, and injuries to people as key examples in addition to common or standard risks inherent in most projects.
In the oil and gas industry, managing marine-based projects in an offshore environment is increasingly complex. In this Offshore & Marine Projects and Risks Management course, you’ll work through the proactive approach to both sides of risk: threats and opportunities. The interactive approach is based on PMI® RMP methodology and designed to provide both qualitative and quantitative approaches to risk management allowing delegates to enhance risk management awareness to ensure they can manage projects better - minimising project cost/schedule overruns and thus improving project execution.
This training course will highlight:
- Learn how to examine both the threats and opportunities facing projects from both a top-down and bottom-up perspective using industry best-practice risk management methodology.
- Understand best how to evaluate and respond to risk at project as well as task levels.
- Achieve the skills to anticipate possible causes of cost and schedule overruns, together with poor quality of work at the earliest possible opportunity in order to take timely corrective action to minimise or mitigate the impact.
- Understand the importance of compliance; both for internal corporate policy and government regulations or legislative bodies, thus avoiding costly schedule or budget headaches.
What are the Goals?
The training course is designed to provide practicing offshore project personnel with the skills and knowledge to successfully manage risk throughout the project cycle. As such, delegates will:
- Get an overview of the Risk Management Process
- Use a practical, six-step process designed to manage project risk
- Learn to identify risks that affect project scope, time & schedule, cost and quality
- Apply useful techniques to identify, analyse, mitigate and monitor risks throughout the project life cycle
- Learn how to create an effective risk monitoring plan and consider appropriate risk management strategies to maintain the plan.
- Develop the risk budget based on expected monetary value (EMV)
Who is this Training Course for?
This PetroKnowledge training course is intended for individuals engaged in multiple disciplines across niche segments of the Offshore & Marine industry including but not limited to:
- Project decision makers
- Project managers
- Related project support managers
- Marine Engineers
- Mooring Engineers
- Project personnel who control project decisions and plans
How will this Training Course be Presented?
Participants will receive a thorough training on the subjects covered with the tutor utilising a variety of proven adult learning teaching and facilitation techniques. Training methodology is designed around a PMI® RMP syllabus and includes an insight into appropriate methods as well as industry tools and processes used as practice examples. The training course includes teamwork around an applicable offshore case study, with group discussion and critical analysis of project stakeholders and project context culminating in team project presentations allowing demonstration of practical execution of the tools covered.
Day One: Risk Management Framework and Planning
Competency Description: In this current economic climate, we must ensure we are appropriately prepared for all risks. We will begin by understanding the foundations of risk management and underpinning this to help ensure that we can deliver our offshore or marine projects successfully.
- Establishing categorisation of projects and associated risk procedures
- Developing appropriate offshore risk management plans and strategies
- Understand key benefits to be gained through solid risk management preparation in offshore or marine projects
Topics to be covered
- Key definitions
- Purpose & benefits of project risk management in offshore projects
- Integrating risk management into the project management process
- 6 steps to managing project risks successfully in challenging conditions
- Plan the approach to offshore project risk management
Day Two: Project Risk Identification Process
Competency Description: Identification of our offshore or marine project risks is crucial to the ability to proactively manage our projects. Commencing with behavioural capabilities we support project risk identification best-practice methods against project cost & schedule activities for the offshore case-study.
- Establishing risk identification methods suitable to offshore or marine projects
- Develop risk behaviours to allow us to support complex projects pro-actively
- Learn key benefits provided through use of SME’s in risk identification
- Use Oil & Gas Industry methods to assist in identification of project risks
Topics to be covered
- Risk Behaviours
- Recommended risk behaviours suitable for offshore or marine projects
- Strengths of collaboration within a complex and struggling industry
- Stepping up as an SME and supporting project delivery
- Risk Identification Processes
- Risk Identification guidelines
- Identify cost estimating methods
- Learn accuracy, allowances, contingency & management reserve
- Measuring schedule against risk – crucial in uncertain conditions
- Considering tools for optimum offshore resource management
- Identifying and categorising risks against offshore Case Study
Day Three: Project Risk Assessment and Quantification Processes
Competency Description: No matter how well project risks are identified, we must quantify them to allow us to prioritise and manage appropriately. We will cover both qualification & quantification methods appropriate to offshore or marine projects.
- Establishing suitable mechanisms for qualifying identified risks
- Developing quantitative and semi-quantitative risk methods and procedures tried and tested within the offshore industry
- Practice use of risk decision-making tools allowing prioritisation of risks
Topics to be covered
- Risk analysis tools & techniques
- Risk analysis qualitative & quantitative approaches
- Carry out qualitative and semi-quantitative analysis on offshore scenarios
- Using decision trees when multiple options are available
- Project risk rating & prioritising
Day Four: Risk Response Plan Development
Competency Description: In the offshore industry, managing identified risks appropriately is key. We will introduce risk response exercises and focus on how those responses can be analysed to challenge their validity. We will also consider the abilities of individuals or parties taking responsibility for agreed risk responses.
- Establishing skills required to properly manage identified risks and responses
- Developing suitable risk responses for threats and opportunities in offshore projects
- Learn how to analyse responses to ensure suitability in complex environments
- Practice risk responses and see the financial savings based on EMV usage
Topics to be covered
- Stepping up as a Risk Leader
- Decision-Making skills & techniques crucial when managing offshore projects
- Negotiation skills to aid conflict management in this challenging environment
- Risk Response Plan Development
- Appropriate tools & techniques to be used for offshore projects
- Risk response strategy guidelines
- Develop appropriate industry-based response strategies
- Risk response analysis
- Identify residual risk and design alternative responses (if required)
Day Five: Risk Response Control
Competency Description: We need to understand the process of developing options and determining actions to enhance opportunities and reduce threats to the offshore project`s objectives.
- Establish mechanisms required for managing identified risks and responses in the offshore environment
- Developing suitable methods to monitor responses
- Understand which control mechanisms are required in case of variances
Topics to be covered
- Risk management plan execution
- Appropriate offshore risk response control tools
- Risk response control guidelines
- Executing against the approved offshore risk strategy
- Evaluating risk response results
- Creating example risk documentation
The Registered Education Provider (R.E.P. ID:4349) status with the Project Management Institute (PMI®) enables PetroKnowledge to issue applicable Professional Development Hours/Units (PDHs/PDUs) to participants on this training course, to help you achieve or maintain PMI® professional credentials.
The PMI® Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Managing Project Risks in the Oil & Gas Industry
- Project Management for the Oil and Gas Industry
- Developing Project Strategy in the Oil & Gas Industry
- Delivering Successful Projects within the Oil & Gas Industry
- Offshore Project Assessment
- Improved Lean Project Management Practices for Offshore and Marine Developments
Project Management Institute, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fifth Edition, Project Management Institute, Inc. 2013