Course Info
Code IND01-133
Duration 5 Days
Format Classroom
Course Summary
The gas & oil industry is a vast industry with global influence. With any business, there needs to be comprehensive management of projects to ensure they remain on task. This is particularly true for projects within the gas & oil industry, where there is an increased about of challenges relating to risk.
For effective risk management, it is essential to identify the key challenges the project may face. To do this, procedures such as HAZID HAZOP, MAR, and LOPA must be followed as closely as possible. Furthermore, other factors need to be accounted for: fluctuations in the market, environmental changes, and employees’ capabilities.
Gas & oil are products that will forever be required, so there is a great responsibility resting on the organisations that manage them. Businesses dealing in these have to protect their financial stability for themselves. With the widespread usage of this market, they need to consider the financial situations of customers, vendors, suppliers, and investors. Project risk management must consider each one of these influences when making huge planning decisions.
Those in charge of project management need to be dedicated, structured and able to understand the complexity of this field to ensure all project risks are managed and monitored effectively.
- To comprehend key roles, responsibilities, and activities associated with project risk management.
- To understand the human influence in risk management.
- To recognise the human interpretation of risks.
- To review the challenges faced within the industry.
- To analyse ideal methods and techniques for risk management optimisation.
- To effectively use relevant and appropriate tools for risk management.
- To understand the changing nature of the industry and the risks involved.
This course is designed for people who are involved in project risk management throughout an oil and gas focused organisation. It would be most beneficial for:
- Project Managers
- Operations Managers
- Oil and Gas Architects
- Maintenance & Reliability Engineers
- Senior Executives
- Project Consultants
- Asset Managers
- Technical Supervisors
- Finance Managers
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will review real-world risk assessments and analyses for projects within the gas and oil industry to assess the risk mitigation tactics and their solutions.
They will be presented with the correct tools required to effectively evaluate the cause and effect within the industry, and these previous experiences will provide them the opportunity to gain an in-depth understanding of how one would manage risk within a project. Participants will later design their own project plans based on what they may experience in their respective roles and go into detail about the potential challenges and probable solutions available.
Course Content & Outline
- Defining risk.
- Reviewing specific project risks within the gas and oil industry.
- Understand the duality of risk – threats and opportunities.
- The difference and relation in business, operational, and project risk.
- Introducing the risk management process.
- Crucial roles and responsibilities of risk management.
- Common and beneficial practices adopted widely in gas and oil organisations.
- Assess the ideal approach for the specific organisation.
- Industry-specific techniques for identifying risks.
- Overview of MAR, LOPA, and HAZID HAZOP.
- Understand the ‘Bow Tie’ methodology.
- Categorisation aligning with the Risk Breakdown Structure (RBS).
- Alternative risk analysis formats.
- Identifying recommended industry-specific practices.
- Explain the difference between Qualitative, Semi-Qualitative, and Quantitative.
- Organisational impact versus environmental impact.
- Sensitivity and expected monetary value analysis.
- Evaluating the potential of human error.
- Past experiences, current perceptions, and mental outlook.
- Understanding external and internal human influence.
- Prioritising risks with the greatest impact.
- Strategies for risk response.
- Formulating and evaluating action plans.
- Gaining the appropriate approval for action plans.
- Implementing and monitoring.
- Conducting response plans when necessary.
- Correctly reporting risks.
- Minimising and escalating risks when appropriate.
- Embedding the risk management process.
- Utilising feedback to make amendments.
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