Risk Management for Oil and Gas Projects

Course Description

This course introduce delegates (project managers, sponsors, project engineers and the project team) to Risk Management best practices as dictated by the Project Management Institute and their Risk Management Standards to the Oil & Gas Industry.


The course focuses as well on many other international standards and management systems, supporting risks related to asset damage, business interruption, pollution, injuries to people, and damage to properties are intrinsic in normal oil and gas activities.

This is a hands on training, so delegates will go through a series of workshops about how to create, manage and sustain a risk management program in your facilities.


Who Should Attend

Project Managers, Sponsors, Risk managers or Specialist


Course Objectives

The main objectives of this short course are:

  • Learn how setup a healthy Risk Management practice for the oil and gas project
  • Create a risk management plan
  • Understand the typical risk management process
  • Prepare to handle and the probability and/or impact of unfortunate events
  • Prepare to handle and maximize risk opportunities
  • Communicate risks efficiently
  • Apply the risk management to other project management key areas (scheduling, tracking & oversight, project communication & status) 


Continuing Professional Development





  • Principles of risk management and oil and Gas projects
  • The risk management plan
  • The Risk Management Process:

                                        I.   Risk Identification

                                        II.  Assessment (qualitative & quantitative)

                                        III. Risk Index

                                        IV. Risk Responses & treatments

  • Create a risk management plan
  • Implementation of Risk Management practice


Day 1

Risk Engagement and Alignment



  • Explain the Risk Management Process E2E (End to End)
  • Operational Risk & the Operational Management Framework – A reality check
  • Operational Risk Sources and Measurement Approaches



Overview of the Risk Management Standards and the Operational Risk Environment


Group Exercise: Identify the key components of your Risk Management Plan (we will use a simple O&G project as an example).


Communication, engagement, collaboration and participation – initiation of a risk management practice, tools & techniques


Summary & wrap up


Day 2

Risk Identification, Assessment and Quantification



  • How to perform the operational risk qualitative and quantitative analysis
  • Identify key Indicators and their use.
  • Risk assessments and scenarios
  • Risk response and strategies



Purpose and Objectives of the Perform Qualitative Risk Analysis Process


Risk Information QA


Iterative Qualitative


Risk taxonomy


Purpose and Objectives of the Perform Quantitative Risk Analysis Process


Unbiased Data


Interrelationships between Risks in Quantitative Risk Analysis


Risk Impact Calculation


Presenting Quantitative Results


Risk Response Strategies


Risk Core Responses


Group exercise: Building, using and interpreting a Risk Register.


Summary & wrap up


Day 3

Risk Track, Oversight and Closing



  • Risk monitor, control and oversight



Risk management sustainability & engagement


Transforming your culture


Production vs Prevention


Customize your Risk Management and Program Plan


Q & A


Intended For

Project stakeholders especially those involved with risk identification and management and the impact on performance


3 days






Houston, Texas, United States



26-28 February 2018


Dubai, United Arab Emirates



22-24 April 2018


London, United Kingdom



14-16 May 2018




Register now