Training for the Future


Effective Project and Risk Management and Stakeholder Engagement in the oil and gas industry

Course Code: EPRMSE

Dates: 7 Aug - 11 Aug | 4 Sep - 8 Sep | 2 Oct - 6 Oct | 20 Nov - 24 Nov | 11 Dec - 15 Dec

Price: £2950 Plus VAT

Duration: 1 Week /s

Effective Project Risk Management provides a structured approach to managing project related risks that ensure value is protected, and most importantly, minimizes the chances of major events affecting not only the project but the organisation to the benefit of all.
This course will also examine public influence on energy business activities. Participants will explore the economics of political action and methods for evaluating how stakeholder groups interact to influence political outcomes. Participants will use these tools to develop strategies for stakeholder engagement and to manage business risks associated with politically-determined decisions. Methods introduced in this course are of interest to those responsible for managing risks and/or adapting plans to issues affecting business through various political forums – legislative, regulatory, judicial, and ‘the court of public opinion.’

This training seminar will highlight:
  • Current issues within the Oil & Gas Industry that need to be tackled

  • Typical risk responses used by the Oil & Gas Industry megaprojects

  • Risk ownership as a critical part of risk management

  • The importance of communication and escalation in Oil & Gas projects

  • Key qualitative, semi-quantitative and quantitative risk responses


  • Objectives
    This training seminar will take delegates through a real-life Oil & Gas project as a case-study, working with the case-study to develop and evaluate using industry best-practice tools. This method will provide a real insight into the challenges, and strengths that a positive Risk Management process can provide in such an uncertain industry.


    At the end of this training seminar, participants will:
  • Develop key risk management competencies such as developing an appropriate risk process for an organisation in the oil & gas Industry

  • Understand the key roles, responsibilities and activities associated with project risk management

  • Understand how best to apply appropriate tools and techniques to optimise risk management for your projects

  • Learn to Deal with the changing nature of risk through a stage gated project process
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  • Understand the human side of risk in terms of risk perception
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  • Understand the crucial challenges and lessons learned associated with oil and gas project risk management


  • Who should attend
    This training seminar is suitable to a wide range of professionals but will greatly benefit anyone working on, interfacing with, or providing governance with respect to oil and gas projects:
  • Project Risk Managers

  • Health and Safety Officers

  • Project Managers

  • Commercial Management

  • Project Engineers

  • Procurement & Logistics

  • Planners

  • Estimators / Cost-Controllers


  • Course 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 & 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

  • - 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 & recommended practices in the oil & gas industry
  • Differences between Qualitative, Semi-Quantitative and 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
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  • An overview of Modelling and Monte Carlo simulations
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  • Risk Analysis outputs


  • Planning Risk Responses and Implementing Risk Responses
  • Risk prioritisation
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  • Risk response strategies
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  • Action plan formulation / evaluation?

  • Appropriate approval / endorsement of action plans
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  • Implementing and monitoring
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  • Earned value management
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  • Reserve Analysis

  • Implementing response plans – good practices



  • Reporting and Communicating Risk, Extracting Lessons & Lessons Learned
  • Risk reporting
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  • Escalating risks

  • Embedding the risk management process
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    - 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 an organization


  • Understand how market imperfections create incentives for political action

  • Know how to characterize a political or ‘non-market’ bargaining environment

  • Know how to collect and summarize information sufficient to analyze non- market issues

  • Know how to use a non-market analytical framework to develop strategies for managing political risks to business operations.


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