Managing Project Risks
in the Oil & Gas Industry

The scrutiny faced by the oil and gas industry has never been greater.   While the industry still accounts for the majority of the world’s energy generation, opponents contest the use of such fossil fuels and such.  Climate change and greenhouse gas emissions legislation, along with concern over the future of hydraulic fracturing, pose major problems to the oil and gas industry and with more households and businesses tightening their belts to make every penny count amidst an ongoing recession, oil and gas companies must address many of the same concerns.

Ultimately, the fact remains that without the industry, the lights would go out and our cars would stop running.  That said, the industry is under incredible stress and the risk factors affecting it are complex.  While many oil and gas companies have seen their own financials improve, the financial stability of partners, customers, vendors and suppliers remain top risk factors.   This all means that the need to manage project risks effectively has never been of great importance to the industry as a whole.

This Project Risk Management training course provides a structured approach to managing project related risks that ensure value is protected, and most importantly, minimizes the chances of major events affecting not only the project but the organisation to the benefit of all.

This training course will highlight:

• Current issues within the Oil & Gas Industry that need to be tackled
• Typical risk responses used by the Oil & Gas Industry megaprojects
• Risk ownership as a critical part of risk management
• The importance of communication and escalation in Oil & Gas projects
• Key qualitative, semi-quantitative and quantitative risk responses

This training course will take delegates through a real-life Oil & Gas project as a case-study, working with the case-study to develop and evaluate using industry best-practice tools.  This method will provide a real insight into the challenges, and strengths that a positive Risk Management process can provide in such an uncertain industry.

At the end of this training course, participants will:

• Develop key risk management competencies such as developing an appropriate risk process for an organisation in the oil & gas Industry
• Understand the key roles, responsibilities and activities associated with project risk management
• Understand how best to apply appropriate tools and techniques to optimise risk management for your projects
• Learn to Deal with the changing nature of risk through a stage gated project process
• Understand the human side of risk in terms of risk perception
• Understand the crucial challenges and lessons learned associated with oil and gas project risk management

This training course is suitable to a wide range of professionals but will greatly benefit anyone working on, interfacing with, or providing governance with respect to oil and gas projects:

• Project Risk Managers
• Project Managers
• Commercial Management
• Project Engineers
• Procurement & Logistics
• Planners
• Estimators / Cost-Controllers

This PetroKnowledge training course incorporates an interactive mixture of lectures supported by relevant practical exercises and an extensive oil project case study running through the five days of the programme. This enables you to fully understand and address the life-cycle considerations of project risk management.