Corporate Training Programme
(Five or Ten Days)
A course dealing with identifying and assessing business risks in Petroleum Projects including case studies on a trans-national pipeline and an offshore upstream development
At the end of this course delegates will be able to understand the techniques for identification of risks in petroleum projects, participate in methods for assessing risks and take a full part as member of a risk assessment workshop.
Who will benefit?
No previous experience is needed.
Generic project risk management process
Defining the scope of the project or business activity
Techniques for Risk Identification
- Stakeholder risk perspectives
- Structured questioning based on Project Definition diagrams
- Risk Breakdown Structure based on PEST
- Risk Register
Exercise: Risk Identification in a transnational pipeline project
- Workshops using Delphi technique
- Assessment based on Matrices
- Risk Mapping
- Assessment based on probability distributions
- Data Analysis to generate probability distributions
Exercise: Team assessment of selected risks from exercise
Monte Carlo simulation
Structuring a simulation model
- Project work breakdown structure
- Cost uncertainty and market factor forecasting
- Modelling critical path networks
- Schedule uncertainty and weather windows
Interpretation of the results of simulation
Risk Control and prioritising mitigation actions
Exercise: Use of a cost and schedule model for an offshore project
Day 4 (optional)
A whole day workshop to introduce a DCF model for a pipeline project, revision in teams of the risk register, interpretation of the changes in cumulative probability simulations and a risk control exercise to improve investment return
Read the Terms and Conditions before booking.