Risk Management of Oil and Gas Projects

This course introduce delegates (project managers, sponsors, project engineers and the project team) to Risk Management best practices as dictated by the Project Management Institute and their Risk Management Standards to the Oil & Gas Industry.

The course focuses as well on many other international standards and management systems, supporting risks related to asset damage, business interruption, pollution, injuries to people, and damage to properties are intrinsic in normal oil and gas activities.
This is a hands on training, so delegates will go through a series of workshops about how to create, manage and sustain a risk management program in your facilities.

The main objectives of this short course are:

  • Learn how setup a healthy Risk Management practice for the oil and gas project
  • Create a risk management plan
  • Understand the typical risk management process
  • Prepare to handle and the probability and/or impact of unfortunate events
  • Prepare to handle and maximize risk opportunities
  • Communicate risks efficiently
  • Apply the risk management to other project management key areas (scheduling, tracking & oversight, project communication & status)
    • Principles of risk management and oil and Gas projects
    • The risk management plan
    • The Risk Management Process:

    I.   Risk Identification

    II.  Assessment (qualitative & quantitative)

    III. Risk Index

    IV. Risk Responses & treatments

    • Create a risk management plan
    • Implementation of Risk Management practice

    Day 1

    Risk Engagement and Alignment


    • Explain the Risk Management Process E2E (End to End)
    • Operational Risk & the Operational Management Framework – A reality check
    • Operational Risk Sources and Measurement Approaches


    Overview of the Risk Management Standards and the Operational Risk Environment

    Group Exercise: Identify the key components of your Risk Management Plan (we will use a simple O&G project as an example).

    Communication, engagement, collaboration and participation – initiation of a risk management practice, tools & techniques

    Summary & wrap up

    Day 2

    Risk Identification, Assessment and Quantification


    • How to perform the operational risk qualitative and quantitative analysis
    • Identify key Indicators and their use.
    • Risk assessments and scenarios
    • Risk response and strategies


    Purpose and Objectives of the Perform Qualitative Risk Analysis Process

    Risk Information QA

    Iterative Qualitative

    Risk taxonomy

    Purpose and Objectives of the Perform Quantitative Risk Analysis Process

    Unbiased Data

    Interrelationships between Risks in Quantitative Risk Analysis

    Risk Impact Calculation

    Presenting Quantitative Results

    Risk Response Strategies

    Risk Core Responses

    Group exercise: Building, using and interpreting a Risk Register.

    Summary & wrap up

    Day 3

    Risk Track, Oversight and Closing


    • Risk monitor, control and oversight


    Risk management sustainability & engagement

    Transforming your culture

    Production vs Prevention

    Customize your Risk Management and Program Plan

    Q & A

This training course uses both conventional and non-traditional techniques. It utilises small group and facilitated plenary discussions as well as instruction to explore key concepts, models, tools and techniques. Hands-on exercises and case studies are used to practice the application of knowledge and use of skills. Structured reviews provide the opportunity to consider how the learning can be applied to the delegates’ own work.

  • D.McKINSEY AND ASSOCIATES Ltd Certificate of Completion for individuals who attend and completes’ Risk Management of Oil and Gas Projects course.
  • Candidates who desire International Certifications shall be registered through our platform for such an examination.


D.Mckinsey is licensed to train and issue certificates by the following bodies;

–           Nigerian Council for Management Education, (CMD).

–           OGTAN (Oil and Gas Trainers Association of NIGERIA).

Kindly confirm space availability by calling +234 (0) 8023192104 or +234 (0) 9062386530 or send an email to info@dmckinseyandassociates.com, dmckinseytraining@gmail.com.   For In-House training programs / on request, please contact us using above contact details.

MAR 20-22

JUL 2-3

OCT 2-4

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