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    1. NExT
    2. Business Management
    3. Advanced Risk Management Tools & Techniques (4 days)

    Advanced Risk Management Tools & Techniques (4 days)

    • Advanced
    • 4 Days
    • classroom1Classroom

    This course provides a thorough treatment of the tools and techniques of risk management on projects. It provides an overview of the dominant standards for risk management in the upstream oil & gas sector and an in-depth introduction or review of the thirty risk assessment tools and techniques of the ISO 31010 standard.

    A structured process approach to project risk management, with its positive and negative aspects, has been a phenomenon of the 21st century. For projects in the upstream oil industry service sector, this structured process is directed by four professional standards – API Q2, ISO 9001, the PMBOK® Guide, and ISO 31000. API Q2, released in 2011, stated: “The organization shall maintain a documented procedure to ensure that competent individuals … control risk throughout the provision of a service.” ISO 9001, as updated in 2015, includes the expression “risk-based thinking” throughout the Quality standard. The PMBOK® Guide has always included process steps for risk, now with the latest version 6 released in 2018, PMI includes seven process steps. Hundreds of project managers have received training in PMBOK® Guide processes through NExT in the last two decades in over a dozen countries. ISO 31000, probably the least known of the four standards, is the ISO’s standard for risk management (first issued in 2009). A subordinate standard, ISO 31010 delineates a large set of tools and techniques for performing risk assessment.

    All of these standards are explained and all of the ISO 31010 risk assessment techniques are taught, demonstrated or practiced in the Advanced Risk Management Tools & Techniques class.

    Project Managers, people working in Project Management Office, people working on risk quantification (such as contracting and tender teams).

    Minimum of 3 years of project management experience and attendance in a Fundamentals of Project Management course. PMP certification preferred.

    Currently there are no scheduled classes for this course.

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