RISK MANAGEMENT FOR OIL AND GAS PROFESSIONALS

INTRODUCTION: 

In today’s competitive business environment, organizations face unprecedented pressure to deliver projects on time, within budget, and with agreed-upon components. This five-day intensive training program equips project managers, operations leaders, and technical professionals with proven methodologies and practical strategies for identifying, managing, and controlling project-based risks in the oil and gas industry. 

The training combines presentations, discussions, and practical exercises to deliver immediately applicable knowledge and skills. By the end of the program, participants will have mastered a complete risk management lifecycle and developed the organizational capabilities necessary to implement risk management successfully across all levels of their organization. 

LEARNING GOALS: 

By completing this training, participants will be able to: 

1. Use practical steps and processes to manage project risk : Master the complete risk management lifecycle from identification through closure, with proven methodologies applicable to real-world projects.

2. Identify threats & opportunities & weigh their relative value in a project: Employ qualitative and quantitative assessment tools to identify and prioritize both negative risks and positive opportunities.
3. Control multiple risks using limited strategies : Apply integrated risk response strategies to manage diverse risk portfolios with constrained resources using prioritization frameworks.

4. Overcome psychological barriers to risk in stakeholders & team members: Build organizational cultures of psychological safety and risk awareness to create genuine commitment to risk management. 
5. Evaluate risk assessment & risk management during the project closure phase: Implement systematic evaluation frameworks to assess effectiveness, capture lessons learned, and drive continuous improvement. 

TRAINING CURRICULUM :

DAY 1: INTRODUCTION TO ORGANIZATIONAL RISK 

Establishes foundational concepts and organizational context for risk management. Topics include the pros and cons of risk management, practical experience from various industries, risk management throughout the project lifecycle, methods to increase company-wide awareness and support, risk management at various organizational levels, and distinguishing between business, technical, and implementation risks. 

DAY 2: THE RISK MANAGEMENT PROCESS WHEEL & IDENTIFYING RISK 

Introduces the systematic risk management process and focuses on risk identification. Participants learn about proactive risk management, the risk management process wheel, creating and maintaining risk registers, risk management planning, and applying risk identification tools and techniques including brainstorming, interviews, and expert judgment. 

DAY 3: RISK ANALYSIS 

Covers both qualitative and quantitative approaches to analyzing identified risks. Topics include qualitative risk analysis, High Reliability Organizations (HROs), risk matrices, Decision Making Grids (DMG), Quantitative Risk Analysis (QRA), Fault Tree Analysis (FTA), and Reliability Block Diagrams (RBD). 

DAY 4: RISK RESPONSES & MANAGING RISKS

Focuses on developing and implementing risk response strategies. Participants learn risk response planning, building comprehensive risk management plans, calculating risk management budgets, monitoring and reviewing risks, opportunity assessment, and project execution risk assessment. 

DAY 5: REPORTING RISK MANAGEMENT OUTCOME 

Addresses communication and evaluation aspects of risk management. Topics include creating effective risk reports, developing oil and gas industry-specific questionnaires, risk evaluation methodologies, and documenting lessons learned for organizational improvement. 

TARGET AUDIENCE :

This training is ideal for professionals across the oil and gas industry responsible for project delivery and operational excellence: 

Operations supervisors and production managers 

Maintenance and reliability engineers 

Project managers and planning engineers 

Field operators and site supervisors 

Emergency response and crisis management coordinators 

Risk analysts and performance improvement professionals