Risk Management for Oil & Gas Sector

WHY CHOOSE THIS TRAINING COURSE?

Risk Management for Oil & Gas training seminar focuses on the issues and imperatives in managing risks in the Oil & Gas industry. The Oil & Gas industry is inherently risky, and in order for any organisation to succeed in today’s fast paced, globally interlinked Oil & Gas industry environment, the ability to proactively identify, assess and reduce risk and uncertainty is essential, but is not always managed effectively. Unfortunately, in recent years, the industry has seen many high-impact, but avoidable, incidents that, as well as representing high cost and loss of life have a major impact on reputation. It is apparent that all responsible organisations today need to give increased prominence to Risk Reduction and Management.

WHAT ARE THE GOALS?

• Understand the role of Risk Management in contributing to performance and competitiveness in Oil & Gas
• Appreciate the lessons of the past from the industry and apply a precautionary approach
• Evaluate & select appropriate concepts, approaches, international standards, methods and techniques for the effective implementation of Risk Management
• Assess current Oil & Gas Risk Management practice & develop mechanisms to support application across the organisation
• Guide organisational deployment

Day 1

Risk and Risk Management in Oil & Gas

• Objectives & Governance, concepts & definitions of risk & Risk Management
• Risk in Oil & Gas
• Risk Management Frameworks & ISO31000
• The importance of commitment, culture, communication and behaviour in seeking an effective Risk Management structure
• The global business and risk environment for Oil & Gas
• Enterprise Risk Management – The Resilient Organisation

Day 2

Designing Your Organisational Framework for Managing Risk

• Selecting a Risk Management framework and process suitable for Oil & Gas application
• Defining Risk Management responsibilities & accountabilities
• Measuring Risk Management performance
• Comparing your organisation’s Risk Management to the ISO 31000 model & principles
• Aligning Risk Management with the organisation
• Defining Risk attitude and risk appetite
• Selecting options for risk criteria, assessment, identification, analysis & evaluation

Day 3

 Business Continuity Management Systems (BCMS)  

• Fundamental principles of Business Continuity Management in Oil & Gas
• Implementation of a BCMS in accordance with ISO 22301 & ISO 27031
• Incident and emergency response management
• Business Impact Analysis (BIA) and Risk Assessment
• The relationship between BCMS and compliance with the other Risk Management requirements
• Planning implementation of a Business Continuity Management Systems (BCMS)

Day 4

Effectively Implementing Risk Management in Oil & Gas 

• Identifying appropriate resources and methodologies to implement The Risk Management Plan
• Integrating Risk Management into decision-making
• Typical barriers to implementation
• Risk reporting & stakeholder management
• Quantitative risk modelling and Qualitative reporting
• Aligning risk reporting with other strategic management activities, such as reputation management.
• Learning from recent cases of failure in the Oil & Gas industry 

Day 5

Review and Continuous Improvement of the Framework  

• Key risk indicators (KRI´s)
• Continually improving the Risk Management implementation
• Collating risk and control information into a central risk register/system
• Inventory of controls. (The “Five Ws”)
• Understanding & using feedback and taking on board “lessons learnt”
•  Open Forum