Risk Assessment & Risk Management for Oil & Gas Projects

Introduction

Risk Assessment & Risk Management for Oil & Gas Training Course supports project teams and decision-makers in mastering the structured, disciplined approach required to manage risk in complex and time-critical energy projects. With industry expectations rising and pressure to deliver on schedule, within budget, and according to defined specifications, the ability to identify, assess, and mitigate risk has become essential for success. This course provides the practical tools, proven methodologies, and strategic insights required to strengthen risk governance across all stages of an oil and gas project. Through a blend of expert-led discussions, case-based learning, and hands-on exercises, participants gain both conceptual clarity and operational capability. The course goes beyond traditional theory by introducing real-world examples, criticality analysis, project risk frameworks, and practical application of root-cause methods. Participants explore how organisational, technical, commercial, and operational risks can influence project outcomes—and how structured risk management practices can minimise disruptions and support decision-making. This PMI Certified Risk Assessment & Risk Management Training for Oil & Gas builds professional competence in evaluating threats and opportunities, improving asset performance monitoring, learning from cross-industry failures, and implementing risk strategies aligned to global project management standards. Whether working upstream, midstream, or downstream, participants return equipped to embed robust risk practices into their projects and enhance both project resilience and organisational value.

Objectives

By the end of This Risk Assessment & Risk Management for Oil & Gas Projects training course, participants will be able to:

• Use practical steps and processes to manage project risk
• 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

Training Methodology

This Risk Assessment & Risk Management for Oil & Gas Projects Training Course is delivered through a highly engaging and practical learning environment. The methodology blends short expert presentations with interactive discussions, individual and group exercises, and application-based workshops. Participants will have opportunities to analyse real cases, practise risk assessment techniques, and evaluate multiple project scenarios based on industry examples. The course encourages active participation, enabling delegates to share experiences, discuss challenges, and refine their personal and organisational approach to risk. Visual tools, structured templates, and guided exercises reinforce understanding, ensuring participants gain immediately applicable skills that strengthen project performance and risk governance in their organisations.

Who Should Attend?

This Risk Assessment & Risk Management for Oil & Gas Projects training course is suitable for a wide range of professionals who are involved in any aspect of Project and Risk Management and who want to understand, implement and improve the latest Risk and Project Management concepts, processes and ideas.

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

Course Outline

Day 1: Introduction to Organisational Risk

• Pro’s and con’s 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

Day 2: The Risk Management Process Wheel & Identifying risk

• Proactive Risk Management Process
• The risk management process wheel
• The risk register
• Risk Management Planning
• Risk Identification
• Risk Identification tools & Techniques

Day 3: 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)

Day 4: Risk Responses & Managing Risks

• Risk Response planning
• Building a Risk Management Plan
• Calculating risk management budget
• Monitoring & Reviewing
• Opportunity Assessment
• Project Execution Risk Assessment

Day 5: 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
• Course evaluation