Classroom Sessions:
Online Sessions:
22 - 26 Sep 2025 | Online | $3,950 | |
09 - 13 Feb 2026 | Online | $3,950 | |
01 - 05 Jun 2026 | Online | $3,950 | |
21 - 25 Sep 2026 | Online | $3,950 |
INTRODUCTION
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 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
Objectives
This Managing Project Risks in the Oil & Gas Industry training course will take delegates through real-life oil & gas projects, using case-studies to develop and evaluate best-practice tools & techniques. This method will provide valuable insights into the challenges, and strengths, that an effective risk management process can provide in such a dynamic and volatile industry sector.
At the end of this training course, participants will:
- Develop key risk management competencies such as developing an appropriate risk process for an organisation in the oil & gas Industry
- Understand the key roles, responsibilities and activities associated with project risk management
- Understand how best to apply appropriate tools and techniques to optimise risk management for your projects
- Learn to deal with the changing nature of risk through a stage gated project process
- Understand the human side of risk in terms of risk perception
- Understand the crucial challenges and lessons learned associated with oil and gas project risk management
Training Methodology
This Managing Project Risks in the Oil & Gas Industry training course incorporates an interactive mixture of professional presentations supported by relevant practical exercises and case studies, running through the five days of the training course. This will enable participants to fully understand and address all the elements of project risk management in the oil & gas industry sector.
Organisational Impact
In the Oil and Gas Industry the failure to manage project risk effectively can lead to catastrophic events occurring. No organisation can afford to be complacent about such events, and ensuring that project risk management is being carried out effectively must be a strategic goal requirement that everyone adheres to. Delegates who attend this training course will receive competence based training, providing the basis for activities that can be delivered on their return to the workplace. Risk management is pervasive in the Oil & Gas industry. Individuals in this industry must acquire the necessary skills to use risk & technology tools effectively and efficiently. These technology tools can be used both to develop and apply other functional competencies related to risk management when working on projects.
Personal Impact
The ability to manage project risk is a core skill for anyone involved in delivering a project. When carried out properly projects are more predictable, value delivery is enhanced and fewer accidents and harm to the environment occur.
Personal competencies relate to the attitudes and behaviours of individuals within Oil & Gas projects. Developing these personal competencies will enhance the way professional relationships are handled and facilitate individual learning and personal improvement. Delegates will be able to enhance their credibility within their organisation knowing that they can competently coordinate a risk process which will benefit their project delivery and ultimately their career.
WHO SHOULD ATTEND?
This Managing Project Risks in the Oil & Gas Industry training course is suitable to a wide range of professionals but will greatly benefit anyone working on, interfacing with, or providing governance with respect to oil and gas projects:
- Project Managers
- Project Risk Managers
- Project Service Managers
- Commercial Management
- Project Engineers
- Procurement & Logistics
- Project Planners
- Project Estimators & Cost-Controllers
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
- 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.
Endorsed Education Provider
A PMI registered mark
GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy 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.NASBARegistry.org
In Association With

PetroKnowledge
Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

Oxford Management Centre
A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.

GLOMACS Training & Consultancy
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