Effective Risk Management in Oil & Gas Projects
Interactive Journey through a Complex Environment
Course Description
introduction
The oil and gas industry faces unprecedented scrutiny as it continues to be a major contributor to global energy generation. However, the industry is also challenged by climate change, greenhouse gas emissions legislation, and concerns over hydraulic fracturing. Additionally, economic pressures have intensified, with households and businesses tightening budgets amid ongoing financial uncertainty. As a result, oil and gas companies must navigate a complex landscape where managing project risks effectively is more critical than ever.
The reality is that without the oil and gas industry, our daily lives would be significantly impacted. However, the industry is under immense pressure, with a complex array of risk factors affecting its operations. Even as many oil and gas companies see financial improvement, the financial stability of partners, customers, vendors, and suppliers remains a top concern. This highlights the increasing importance of effective project risk management in safeguarding the industry's future.
This Project Risk Management training course offers a structured approach to managing project-related risks, ensuring value protection and minimizing the chances of major events that could impact both the project and the organization as a whole.
Key Highlights of this Demoura Lawson Consulting Training Course:
The reality is that without the oil and gas industry, our daily lives would be significantly impacted. However, the industry is under immense pressure, with a complex array of risk factors affecting its operations. Even as many oil and gas companies see financial improvement, the financial stability of partners, customers, vendors, and suppliers remains a top concern. This highlights the increasing importance of effective project risk management in safeguarding the industry's future.
This Project Risk Management training course offers a structured approach to managing project-related risks, ensuring value protection and minimizing the chances of major events that could impact both the project and the organization as a whole.
Key Highlights of this Demoura Lawson Consulting Training Course:
- Address current challenges within the oil and gas industry that require immediate attention.
- Explore typical risk responses used by mega projects in the oil and gas sector.
- Emphasize the critical role of risk ownership in successful risk management.
- Highlight the importance of communication and escalation in oil and gas projects.
- Introduce key qualitative, semi-quantitative, and quantitative risk response strategies.
objectives
The Effective Risk Management in Oil & Gas Projects training course guides participants through a real-life case study, enabling them to develop and evaluate risk management strategies using industry best-practice tools. This approach offers valuable insights into the challenges and strengths of implementing a robust risk management process in an uncertain industry.
By the end of this training course, participants will be able to:
By the end of this training course, participants will be able to:
- Develop essential risk management competencies, including creating an appropriate risk process for an oil and gas organization.
- Understand key roles, responsibilities, and activities associated with project risk management.
- Apply effective tools and techniques to optimize risk management for projects.
- Adapt to the evolving nature of risk through a stage-gated project process.
- Recognize the human factors involved in risk perception and management.
- Learn crucial lessons and challenges specific to oil and gas project risk management.
Training Methodology
This Demoura Lawson Consulting training course features an interactive blend of lectures, practical exercises, and an extensive oil project case study. Over five days, participants will gain a comprehensive understanding of project risk management life-cycle considerations.
Organizational Impact
In the oil and gas industry, the failure to manage project risks effectively can lead to catastrophic events. No organization can afford to be complacent about such risks, making effective project risk management a strategic priority. Delegates attending this training course will receive competency-based training, equipping them with the skills to implement effective risk management processes upon returning to their workplace. Risk management is integral to the oil and gas industry, and acquiring the necessary skills to use risk and technology tools effectively is essential for success.
personal Impact
Managing project risk is a core skill for anyone involved in project delivery. When executed correctly, projects become more predictable, value delivery improves, and the likelihood of accidents or environmental harm decreases.
Developing personal competencies in risk management enhances professional relationships, facilitates individual learning, and promotes personal growth. Delegates will build credibility within their organizations, confidently coordinating risk processes that benefit project delivery and support career advancement.
WHO SHOULD ATTEND?
This Effective Risk Management in Oil & Gas Projects training course is ideal for a wide range of professionals, particularly those working on, interfacing with, or providing governance for oil and gas projects:
- Project Risk Managers
- Project Managers
- Project Management Professionals
- Commercial Managers
- Project Engineers
- Procurement & Logistics Professionals
- Planners
- Estimators / Cost Controllers
Course Outline
Day 1
- Understanding Risk in the Oil and Gas Industry
- The Dual Nature of Risk: Threats and Opportunities
- Business, Operational, and Project Risk
- Introduction to the Risk Management Process
- Planning Risk Management
Fundamental Project Risk Management Concepts
Roles & Responsibilities and Identifying Risks
Day 2
- Key Risk Management Roles and Responsibilities
- Best Practices in Oil and Gas Organizations
- Risk Identification Techniques for the Oil and Gas Industry
- Overview of MAR, LOPA, HAZID, HAZOP
- The ‘Bow Tie’ Methodology
- Categorization and the Use of Risk Breakdown Structure (RBS)
Risk Analysis Techniques
Day 3
- Alternative Risk Analysis Formats & Best Practices in Oil & Gas
- Differences Between Qualitative, Semi-Quantitative, and Quantitative Assessments
- Tools and Techniques for Risk Analysis
- Sensitivity Analysis and Expected Monetary Value Analysis
- Understanding the Human Side of Risk
- Overview of Modeling and Monte Carlo Simulations
Planning and Implementing Risk Responses
Day 4
- Prioritizing and Formulating Risk Response Strategies
- Action Plan Evaluation and Approval
- Implementing and Monitoring Risk Responses
- Earned Value Management and Reserve Analysis
- Best Practices in Implementing Response Plans
Reporting, Communicating Risk, and Lessons Learned
Day 5
- Effective Risk Reporting and Escalation
- Embedding the Risk Management Process
- Identifying and Applying Lessons Learned
- Key Risk Management Lessons from Oil and Gas Megaprojects
- Implementing Lessons in Your Organization
Certificates
Demoura Lawson Consulting Certificate will be awarded to the delegates upon successful completion of this training course.
Submit form
+ Training
+ Consulting
+ Support Services
+ Professional Development
Let us know which service you are interested in:
Please complete the form below and a member of our team will be in touch within 1-3 business days
Thank you for your interest in Demoura Lawson Consulting
Contact Us
Qatar: Unit Office No. 1905: 19th Floor, The E18hteen Tower , Bldg 230, Street 303, Zone 69, Lusail Marina , Qatar
Tel: +974 4445 9206
Saudi Arabia: 3121 Imam Abdullah Bin Saud Bin Abdulaziz Road, Ishbiliyah, Riyadh 13225, Saudi Arabia
Tel: +966 50 685 6910
Effective Risk Management in Oil & Gas Projects
Interactive Journey through a Complex Environment
Course Description
introduction
The oil and gas industry faces unprecedented scrutiny as it continues to be a major contributor to global energy generation. However, the industry is also challenged by climate change, greenhouse gas emissions legislation, and concerns over hydraulic fracturing. Additionally, economic pressures have intensified, with households and businesses tightening budgets amid ongoing financial uncertainty. As a result, oil and gas companies must navigate a complex landscape where managing project risks effectively is more critical than ever.
The reality is that without the oil and gas industry, our daily lives would be significantly impacted. However, the industry is under immense pressure, with a complex array of risk factors affecting its operations. Even as many oil and gas companies see financial improvement, the financial stability of partners, customers, vendors, and suppliers remains a top concern. This highlights the increasing importance of effective project risk management in safeguarding the industry's future.
This Project Risk Management training course offers a structured approach to managing project-related risks, ensuring value protection and minimizing the chances of major events that could impact both the project and the organization as a whole.
Key Highlights of this Demoura Lawson Consulting Training Course:
The reality is that without the oil and gas industry, our daily lives would be significantly impacted. However, the industry is under immense pressure, with a complex array of risk factors affecting its operations. Even as many oil and gas companies see financial improvement, the financial stability of partners, customers, vendors, and suppliers remains a top concern. This highlights the increasing importance of effective project risk management in safeguarding the industry's future.
This Project Risk Management training course offers a structured approach to managing project-related risks, ensuring value protection and minimizing the chances of major events that could impact both the project and the organization as a whole.
Key Highlights of this Demoura Lawson Consulting Training Course:
- Address current challenges within the oil and gas industry that require immediate attention.
- Explore typical risk responses used by mega projects in the oil and gas sector.
- Emphasize the critical role of risk ownership in successful risk management.
- Highlight the importance of communication and escalation in oil and gas projects.
- Introduce key qualitative, semi-quantitative, and quantitative risk response strategies.
objectives
The Effective Risk Management in Oil & Gas Projects training course guides participants through a real-life case study, enabling them to develop and evaluate risk management strategies using industry best-practice tools. This approach offers valuable insights into the challenges and strengths of implementing a robust risk management process in an uncertain industry.
By the end of this training course, participants will be able to:
By the end of this training course, participants will be able to:
- Develop essential risk management competencies, including creating an appropriate risk process for an oil and gas organization.
- Understand key roles, responsibilities, and activities associated with project risk management.
- Apply effective tools and techniques to optimize risk management for projects.
- Adapt to the evolving nature of risk through a stage-gated project process.
- Recognize the human factors involved in risk perception and management.
- Learn crucial lessons and challenges specific to oil and gas project risk management.
Training Methodology
This Demoura Lawson Consulting training course features an interactive blend of lectures, practical exercises, and an extensive oil project case study. Over five days, participants will gain a comprehensive understanding of project risk management life-cycle considerations.
Organizational Impact
In the oil and gas industry, the failure to manage project risks effectively can lead to catastrophic events. No organization can afford to be complacent about such risks, making effective project risk management a strategic priority. Delegates attending this training course will receive competency-based training, equipping them with the skills to implement effective risk management processes upon returning to their workplace. Risk management is integral to the oil and gas industry, and acquiring the necessary skills to use risk and technology tools effectively is essential for success.
personal Impact
Managing project risk is a core skill for anyone involved in project delivery. When executed correctly, projects become more predictable, value delivery improves, and the likelihood of accidents or environmental harm decreases.
Developing personal competencies in risk management enhances professional relationships, facilitates individual learning, and promotes personal growth. Delegates will build credibility within their organizations, confidently coordinating risk processes that benefit project delivery and support career advancement.
Developing personal competencies in risk management enhances professional relationships, facilitates individual learning, and promotes personal growth. Delegates will build credibility within their organizations, confidently coordinating risk processes that benefit project delivery and support career advancement.
Who should attend?
This Effective Risk Management in Oil & Gas Projects training course is ideal for a wide range of professionals, particularly those working on, interfacing with, or providing governance for oil and gas projects:
- Project Risk Managers
- Project Managers
- Project Management Professionals
- Commercial Managers
- Project Engineers
- Procurement & Logistics Professionals
- Planners
- Estimators / Cost Controllers
Course Outline
Day 1
Fundamental Project Risk Management Concepts
- Understanding Risk in the Oil and Gas Industry
- The Dual Nature of Risk: Threats and Opportunities
- Business, Operational, and Project Risk
- Introduction to the Risk Management Process
- Planning Risk Management
Day 2
Roles & Responsibilities and Identifying Risks
- Key Risk Management Roles and Responsibilities
- Best Practices in Oil and Gas Organizations
- Risk Identification Techniques for the Oil and Gas Industry
- Overview of MAR, LOPA, HAZID, HAZOP
- The ‘Bow Tie’ Methodology
- Categorization and the Use of Risk Breakdown Structure (RBS)
Day 3
Risk Analysis Techniques
- Effective Risk Reporting and Escalation
- Embedding the Risk Management Process
- Identifying and Applying Lessons Learned
- Key Risk Management Lessons from Oil and Gas Megaprojects
- Implementing Lessons in Your Organization
- Alternative Risk Analysis Formats & Best Practices in Oil & Gas
- Differences Between Qualitative, Semi-Quantitative, and Quantitative Assessments
- Tools and Techniques for Risk Analysis
- Sensitivity Analysis and Expected Monetary Value Analysis
- Understanding the Human Side of Risk
- Overview of Modeling and Monte Carlo Simulations
Day 4
Planning and Implementing Risk Responses
- Prioritizing and Formulating Risk Response Strategies
- Action Plan Evaluation and Approval
- Implementing and Monitoring Risk Responses
- Earned Value Management and Reserve Analysis
- Best Practices in Implementing Response Plans
Day 5
Reporting, Communicating Risk, and Lessons Learned
Certificates
Demoura Lawson Consulting Certificate will be awarded to the delegates upon successful completion of this training course.
Submit form
+ Training
+ Consulting
+ Support Services
+ Professional Development
Let us know which service you are interested in:
Please complete the form below and a member of our team will be in touch within 1-3 business days
Thank you for your interest in Demoura Lawson Consulting
Contact Us
Qatar: Unit Office No. 1905: 19th Floor, The E18hteen Tower , Bldg 230, Street 303, Zone 69, Lusail Marina , Qatar
Tel: +974 4445 9206
Saudi Arabia: 3121 Imam Abdullah Bin Saud Bin Abdulaziz Road, Ishbiliyah, Riyadh 13225, Saudi Arabia
Tel: +966 50 685 6910