A Project Management Institute, Inc. (PMI)®Registered Training Course
Managing Project Risks in the Oil & Gas Industry
Minimising Uncertainties in Highly Complex Environments
Course Overview
The oil and gas industry operates in one of the most complex and high-stakes environments, where projects face a unique combination of technical, financial, regulatory, and geopolitical risks. Managing these risks effectively is critical to ensuring project success, maintaining safety, and optimising investment returns.
This 5-Day training course provides participants with a structured approach to identifying, assessing, and mitigating risks throughout the project lifecycle. From exploration and drilling to production and decommissioning, every phase presents challenges that require strategic risk management.
Participants will gain insights into industry-specific risk factors, including volatile market conditions, environmental concerns, supply chain disruptions, and stakeholder expectations. Through real-world case studies, practical frameworks, and interactive discussions, this training course equips professionals with the tools needed to develop robust risk management plans and make informed decisions in high-pressure situations.
This Saudi GLOMACS Managing Project Risks in the Oil & Gas Industry training course will highlight:
- Key factors in oil & gas project risk management planning
- The importance of accurate risk identification & analysis
- Risk ownership as a critical part of risk management
- The importance of communication and escalation in oil & gas projects
- How to create and implement effective risk response plans
Training Outline
DAY 1: Project Risk Management Fundamentals
- What is Risk?
- The Risk Management Process
- Key Risk Management Roles and Responsibilities
- The Dual Nature of Risk: Threats and Opportunities
- Integrating Risk Management into Project Management
- Planning Risk Management
- Project Risk in the Oil and Gas Industry
DAY 2: Risk Identification Processes
- Risk Identification Tools & Techniques
- Categorisation and the Use of Risk Breakdown Structures (RBS)
- Consequential Risk Identification
- Managing Risk through Project Estimating
- Managing Risk through Earned Value Management
- Schedule Risk Management
DAY 3: Risk Analysis Techniques
- Qualitative Risk Analysis
- Bow-Tie Risk Analysis
- Risk Matrix Sizing
- Quantitative Risk Analysis
- Monte Carlo Simulations
- Decision Trees & EMV
- Risk Management through Integrity Assurance
DAY 4: Risk Response Planning & Strategizing
- Risk Prioritisation
- Risk Response Strategies
- Response Planning & Analysis
- Alternative Responses
- Response Validation
- Contingency & Management Reserves
DAY 5: Risk Response Plan Implementation & Control
- Resource Management
- Risk Control Guidelines
- Escalating Risks
- Risk Reporting & Documenting
- How to Identify and Feedback Lessons Learned
- Course Summation & Work Session Review
Certificates
- On successful completion of this training course, GLOMACS Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor and Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI®), will be awarded to the delegates
Accreditation
GLOMACS is proud to be an Authorized Training Partner (ATP No. 2759) with PMI®. As an ATP, GLOMACS is authorized to issue applicable Professional Development Units (PDUs) and Educational Contact Hours to participants of any of its PMI® approved training courses for PMI® Certification and Re-Certification.
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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