/  Managing Project Risks in the Oil and Gas Industry
All courses in Singapore have been cancelled .
BMC Training provides on 23 May 2021 Managing Project Risks in the Oil and Gas Industry course [Oil and Gas Training] in Singapore,Singapore


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

Programme Outline

Fundamental Project Risk Management Concepts

  • What is risk?
  • What is different about project risk in the Oil and Gas Industry?
  • The dual nature of risk: – threats and opportunities
  • Business, operational and project risk
  • Introducing the risk management process
  • Planning risk management

Roles and Responsibilities and Identifying Risks

  • Key risk management roles and responsibilities
  • Good practices adopted in oil and gas organisations
  • Alternative approaches – which is right for your organisation?
  • Risk identification
  • Oil and Gas Industry specific techniques
  • Overview of MAR, LOPA, HAZID HAZOP
  • The ‘Bow Tie’ methodology
  • Tools and techniques for project risk identification
  • Alternative techniques based on team dynamic
  • Sabotage teams
  • Categorisation and the use of Risk Breakdown Structure (RBS)

Risk Analysis techniques

  • Alternative Risk Analysis assessment formats and recommended practices in the oil and gas industry
  • Qualitative /
  • Semi-Quantitative
  • Quantitative
  • Assessing Impact
  • Organisational / Business impact versus Safety / Environmental impact
  • Tools and techniques for risk analysis
  • Sensitivity Analysis
  • Expected monetary value analysis
  • Further factors to consider – the people side of risk
  • Perception, past experience and mental outlook
  • External factors – regulator activities & the effect of catastrophic incidents in the industry
  • Modelling and Monte Carlo simulation
  • Risk Analysis outputs

Planning Risk Responses and Implementing Risk Responses

  • Risk prioritisation
  • Risk response strategies
  • Action plan formulation
  • Action plan evaluation
  • Analytical evaluation process
  • Appropriate approval / endorsement of action plans
  • Implementing and monitoring
  • Variance and trend analysis
  • Earned value management
  • Implementing response plans – good practices

 Reporting and Communicating Risk, Extracting Lessons & Lessons Learned from the Industry

  • Risk reporting
  • Escalating risks
  • Reserve analysis
  • Embedding the process
  • How to identify and feedback lessons learned
  • Key risk management lessons from the oil and gas industry and megaprojects in particular
  • Applying the lessons and how to implement in my organization

Related Training Courses

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Course Details
  • Code OGT9
  • TIME    08:00 AM - 11:15 AM
  • DATE    May 23 2021 - May 27 2021
  • Singapore , Ibis Singapore Novena
  • +44 2087206971
  • Support@bmc.net

Fees Per Person

6500 GBP + VAT
Other Dates

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