Risk Management for Upstream Capital Projects
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Risk Management for Upstream Capital Projects Course
Introduction:
This comprehensive five-day course is designed for project managers, project engineers, and integrated project team discipline members who are looking to enhance their understanding and application of capital project risk management. The course covers key areas associated with managing risk throughout the entire project life cycle.
With a strong emphasis on practical application, this course offers a hands-on learning experience through class exercise case studies. Participants will actively engage in developing risk management deliverables, allowing them to apply the concepts and techniques learned in a real-world context.
The course delves into various methods and strategies that project team leaders can employ to ensure the active participation and buy-in of project team members and management in the risk management process. By fostering a collaborative approach, organizations can effectively identify, assess, and mitigate risks, enhancing project success and minimizing potential negative impacts.
Throughout the course, participants will explore the best practices and tools for managing risk in capital projects. They will gain insights into risk identification, analysis, and response planning, as well as techniques for monitoring and controlling risks. The course also covers topics such as risk communication, stakeholder engagement, and integrating risk management into project decision-making processes.
By the end of the course, participants will have a solid understanding of capital project risk management and its application throughout the project life cycle. They will have developed the skills to identify and assess risks, formulate effective risk response strategies, and integrate risk management into project planning and execution.
Join us in this intermediate level course to enhance your expertise in capital project risk management. Through interactive exercises, case studies, and practical examples, you will gain the knowledge and skills needed to confidently address risk challenges and ensure the success of your projects.
Course Objectives:
- Apply risk management to a capital project throughout the entire life cycle
- Write a risk management plan and gain alignment with key stakeholders
- Engage management and project team members in the risk management process
- Systematically identify risks for your project
- Determine those risks that are owned by the project team and those owned by management
- Use risk assessment to analyze and prioritize risks for treatment
- Develop robust risk mitigation plans
- Control and monitor risk
- Incorporate risk planning into project cost and schedule
- Use the role of probabilistic cost and schedule in risk management
Who Should Attend?
Project managers, project engineers, and all disciplines that work on integrated project teams for upstream onshore and offshore developments. Case studies include deep-water projects with complex production components, as well as unconventional shale projects that require significant infrastructure investment.
Course Outlines:
- Risk management planning
- Roles/responsibilities, governance, and risk ownership
- Identify, analyze, and respond to risk events
- Types of risks: threats vs. opportunities
- Risk analysis and prioritization
- Risk mitigation and contingency planning
- Monitor and control risk
- Risk reporting and communication
- High level overview of probabilistic cost and schedule peer reviews