Risk Assessment and Risk Management In the Oil and Gas Industry


5 days


18 – 22 September 2023






The Business Xchange Hub, Marco Polo House
3-5 Lansdowne Road, Croydon, Surrey, CR0 2BX United Kingdom

Course Overview

This training course will utilize a variety of proven adult learning techniques to ensure maximum understanding. The training course will be highly interactive. Following an introductory session, short input sessions will be provided followed by delegates being given the opportunity to put into practice the lessons learned in the preceding topics.
Illustrations of risk management from the real world will be provided and delegates will be encouraged to contribute examples and illustrations from their own experiences.

Course Content:

Introduction to Organisational 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 Organisations (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

Who should attend

This training course is suitable for a wide range of professionals who are involved in any aspect of Risk assessment and Risk Management.

This training course is suitable to a wide range of professionals but will greatly benefit:

  • Project Management Team members
  • Operations supervisors and team
  • Project Managers
  • Oil and Gas Enterprise Architects
  • Asset supervisors and team
  • Maintenance supervisors and team
  • Maintenance & Reliability Engineers
  • Technical managers, supervisors and team
  • Consultants in Project, Asset, Maintenance and Risk Management

This course can also be taken in

Accra: TBA

Dubai: TBA

Texas: On Request

Training Objectives

 By the end of this training course, participants will be able to:

  • Use practical steps and processes to conduct risk assessment and risk management
  • 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.

    This training course will feature:


    • Project management and risk assessment in oil and gas industry
    • Setting criticality analysis and priorities for different assets
    • Performance of root cause analysis
    • Managing performance of assets
    • Learning from major failures in different industries

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