Introduction to Risk and Uncertainty Management

INSTRUCTOR: Susan Howes PE PHR
DISCIPLINE: Intro & Multi-Disciplinary
COURSE LENGTH (DAYS): 2 Days
CEUS: 1.6
AVAILABILITY: In-House 

 

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WHO SHOULD ATTEND: Geologists, geophysicists, petrophysicists, reservoir engineers, drilling engineers, production engineers, completion engineers, facility engineers, HSE professionals, technical managers.

COURSE DESCRIPTION: This course is for members of multi-disciplinary project teams who need to identify key technical, mechanical, geological and commercial risks, and develop mitigation plans to address these risks. Members of multi-disciplinary technical teams will learn to plan how to resolve key uncertainties associated with their responsibilities for managing exploration portfolios, building regional exploitation strategies, managing capital projects and maintaining robust asset development plans.

LEARNING OUTCOMES:

  • Understand the differences between risk and uncertainty
  • Learn how to identify and address various types of risk, including technical, mechanical, geological and commercial
  • Be able to add value with the appropriate level of uncertainty resolution and risk mitigation
  • Improved cross-disciplinary communication between team members, their managers, and field personnel
  • Enhanced decision quality

 

COURSE CONTENT:

  • Introduction of key concepts for risk and uncertainty management
  • Decision quality principles
    • Developing a Relevant Frame
    • Generating Creative and Doable Alternatives
    • Using Relevant and Reliable Information
    • Assessing the Consequences of Choosing Different Alternatives
    • Applying Logical Analysis
    • Committing to Action
  • Characterize uncertainties and develop uncertainty resolution plans
  • Analyze risks and develop risk mitigation strategies
  • Practice the systematic methodology through application with relevant case studies

 

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