Course Overview

Oil & Gas companies operate in a high-stakes environment where risk can significantly impact long-term profitability, project timelines, and corporate reputation. From exploration and development to operational execution, understanding how to manage project-based and enterprise-wide risk is critical.

This course delivers a practical, hands-on approach to risk management tailored for the oil & gas sector. Through expert-led instruction, real-world case studies, and industry-specific tools, learners will gain actionable skills to control, respond to, and minimize various types of risk throughout the lifecycle of oil and gas projects.

Course Benefits

• Understand and articulate the value of risk management in Oil & Gas
• Analyze historical failures to apply a more proactive approach
• Select and implement risk strategies aligned with global standards
• Guide organizational-wide risk deployment
• Use tools and techniques to assess, quantify, and manage risk
• Manage risks across the full project lifecycle
• Control multiple risks using limited resources
• Communicate risk priorities effectively to teams and stakeholders

Course Modules

Module 1: Core Principles of Oil & Gas Risk

• Understanding Business, Technical, and Implementation Risks
• Risk Awareness Across the Organization
• Risk Lifecycle in Projects
• Risk Management Process Wheel
• Risk Registers & Identification

Module 2: Risk Analysis & Planning

• Risk Identification Tools & Techniques
• Qualitative vs Quantitative Risk Analysis
• Calculating Budgets for Risk Management
• Creating Risk Management Plans
• Project Risk Assessment during Execution

Module 3: Strategic Risk Techniques

• Practical Risk Planning Frameworks
• Managing Risks with Limited Resources
• Risk Monitoring and Evaluation
• Opportunity Assessment & Outcome Reporting
• Building Custom Oil & Gas Risk Questionnaires

Module 4: Advanced Operational Risk

• Global Risk Management Standards Overview
• Stakeholder Engagement & Communication
• Operational Risk Environment for O&G Projects
• Using KPIs and Risk Indicators
• Risk Taxonomy & Data Quality Assurance

Module 5: Quantitative & Strategic Response

• Quantifying Risks: Methods and Metrics
• Interrelated Risk Impact Analysis
• Presenting Results for Decision Making
• Designing and Interpreting a Risk Register

Module 6: Monitoring & Closing

• Risk Oversight and Control Mechanisms
• Risk Management Sustainability
• Risk Culture Transformation
• Balancing Production vs Prevention
• Customizing Long-Term Risk Programs