Oil and Gas Construction Project Risk Management



Because of increased pressure to deliver projects on time, within budget and with the agreed components, the need to identify, manage and control the project-based risks becomes central to success. Project Managers need to use tried and accepted techniques for managing identified risks and have access to practical strategies for dealing with issues as they emerge.

Target Participants:

  • Professionals who are involved in any aspect of Project and Risk Management and who want to understand, implement, and improve the latest Risk and Project Management concepts, processes, and ideas.
  • Project Management Team members.
  • Operations Managers.
  • Project Managers.
  • Oil and Gas Enterprise Architects.
  • Asset Managers.
  • Maintenance Managers.
  • Maintenance & Reliability Engineers.
  • Technical managers & supervisors.
  • Board level executives and non-executives.
  • Consultants in Project, Asset, Maintenance and Risk Management.


By the end of this course, participants will be able to:
  • Use practical steps and processes to manage project risk.
  • Identify threats & opportunities & weigh their relative value in a project.
  • Control multiple risks using limited strategies.
  • Overcome psychological barriers to risk in stakeholders & team members.
  • Evaluate risk assessment & risk management during the project closure phase of the project.

Course outlines:

  • Introduction to Organizational Risk
    • Pros and cons of risk management.
    • Practical experience with risk assessment & risk management in various industries.
    • Risk Management throughout a project life cycle.
    • Methods to increase company-wide awareness, understanding & senior level support.
    • Risk Management at various levels of an organization.
    • Business risks vs technical risks vs implementation risks.
  • The Risk Management Process Wheel & Identifying Risk
    • Proactive risk management process.
    • The risk management process wheel.
    • The risk registers.
    • Risk management planning.
    • Risk identification.
    • Risk identification tools & techniques.
  • Risk Analysis
    • Qualitative risk analysis.
    • High Reliability Organizations (HROs).
    • The risk matrix.
    • Decision Making Grid (DMG).
    • Quantitative Risk Analysis (QRA).
    • Fault Tree Analysis (FTA) and Reliability Block Diagrams (RBD).
  • Risk Responses & Managing Risks
    • Risk response planning.
    • Building a risk management plan.
    • Calculating risk management budget.
    • Monitoring & reviewing.
    • Opportunity assessment.
    • Project execution risk assessment.
  • Reporting Risk Management Outcome
    • What makes a bad report?
    • What makes a good report?
    • Creating an oil & gas risk questionnaire.
    • Risk evaluation.
    • Risk evaluation report.