Offshore & Marine Projects and Risks Management

OVERVIEW

Risk management is an integral part of day-to-day business activities in many industries and the offshore & marine industry brings along its inherent areas of risks ranging from non-compliance of assets and per legislative bodies, major cost or schedule overruns for projects, asset safety, asset damage, business interruption, pollution, and injuries to people as key examples in addition to common or standard risks inherent in most projects.

In the oil and gas industry, managing marine-based projects in an offshore environment is increasingly complex. In this Project Risk Management seminar, you’ll work through the proactive approach to both sides of risk: threats and opportunities. The interactive approach is based on methodology and designed to provide both qualitative and quantitative approaches to risk management allowing delegates to enhance risk management awareness to ensure they can manage projects better.

OBJECTIVES

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

• Gain an overview of the Risk Management Process
• Use a practical, six-step process designed to manage project risk
• Learn to identify risks that affect project scope, time & schedule, cost, and quality
• Apply useful techniques to identify, analyze, mitigate, and monitor risks throughout the project life cycle
• Learn how to create an effective risk monitoring plan and consider appropriate risk management strategies to maintain the plan.
• Develop the risk budget based on expected monetary value (EMV)

TARGET PARTICIPANTS

• Offshore and marine industry including Rig builders
• FPS Operators & Owners
• Rig Owners
• Ship Conversion Yards
• E & P Contractors

COURSE CONTENTS

1. Project Risk Management Framework and Planning

• Introduction
• Key definitions
• Purpose of Risk Management
• Benefits of embracing project risk management
• Integrating risk management into the project management process
• Components of Risk
• Types of Project Risks
• Six steps to successful project risk management
• Risk Planning
• Plan the approach to risk management
• Planning inputs, tools & outputs

2. Project Risk Identification Processes

• Project Risks Identification, Evaluation, and Mitigation Strategies
• Conducting Hazop Studies in E & P Projects
• Impact of Project Risks on Corporate Performance
• Project and Risk Management Framework
• Project Organization Structures
• Contracts Breakdown Structures and Works Breakdown Structures
• Commercial and Contractual Risks in High-Value Complex Projects
• Financing and Cash Flow Management
• Risk monitoring and Management Controls
• Project Resource Planning
• Human Resource Competencies
• Cross-functional teams and Distributed Works Management

3. Risk Response Plan Development

• Appropriate tools & techniques to be used for offshore projects
• Risk response strategy guidelines
• Develop appropriate industry-based response strategies
• Risk response analysis
• Identify residual risk and design alternative responses (if required)

4. Risk Management Plan Execution

• Appropriate offshore risk response control tools
• Risk response control guidelines
• Executing against the approved offshore risk strategy