Re-Visiting the Project Risk Management Framework and Adapting it for the Kazakh Oil and Gas Industry (Russian)

2020 ◽  
Author(s):  
Murat Syzdykov ◽  
Talgat Seitimov ◽  
Zhanar Baibussinova
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Project Risk Management ◽  
Project Risk ◽  
Gas Industry ◽  
Management Framework ◽  
Risk Management Framework

Project Risk Management

2013 ◽  
Vol 2 (4) ◽  
pp. 79-101
Author(s):  
Jan Terje Karlsen ◽  
Odin Folke-Olsen ◽  
Tim Torvatn
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Project Risk Management ◽  
Management Performance ◽  
Management Tools ◽  
Project Risk ◽  
Gas Industry ◽  
Management Processes ◽  
Contribution Index

This study is about project risk management tools. The aim has been to identify which tools have the greatest potential for contribution to risk management processes in the Norwegian oil and gas industry, and which factors contribute to efficient risk management. Empirical data from the Norwegian industry have been gathered using a questionnaire. The results revealed strong relationships between project system complexity, average tool score and risk management contribution. Furthermore, the results of the analysis show that some of the previous recommendations of tools for project risk management may have been based on a restricted set of determinants. On the other hand, similarities are also found with previous research in terms of the highest ranked tools based on perceived contribution to the risk management performance. Compared to the previous findings, this study indicates that a new measure for project management performance is needed, and that the recommendation of tools based on the risk management contribution index may be flawed. Nevertheless, it is concluded that several of the recommended tools are of great value across industries.

Project Risk Management

2015 ◽  
pp. 250-271
Author(s):  
Jan Terje Karlsen ◽  
Odin Folke-Olsen ◽  
Tim Torvatn
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Project Risk Management ◽  
Management Performance ◽  
Management Tools ◽  
Project Risk ◽  
Gas Industry ◽  
Management Processes ◽  
Contribution Index

This study is about project risk management tools. The aim has been to identify which tools have the greatest potential for contribution to risk management processes in the Norwegian oil and gas industry, and which factors contribute to efficient risk management. Empirical data from the Norwegian industry have been gathered using a questionnaire. The results revealed strong relationships between project system complexity, average tool score and risk management contribution. Furthermore, the results of the analysis show that some of the previous recommendations of tools for project risk management may have been based on a restricted set of determinants. On the other hand, similarities are also found with previous research in terms of the highest ranked tools based on perceived contribution to the risk management performance. Compared to the previous findings, this study indicates that a new measure for project management performance is needed, and that the recommendation of tools based on the risk management contribution index may be flawed. Nevertheless, it is concluded that several of the recommended tools are of great value across industries.

scholarly journals Risk Mitigation Strategy and Efficiency Improvement of PT Gasses Logistic Transportation using Six Sigma DMAIC Method

2021 ◽  
Vol 04 (12) ◽  
Author(s):  
Ramadytio Fadhli Prayogio ◽  
Keyword(s):  
Risk Management ◽  
Six Sigma ◽  
Oil And Gas ◽  
Risk Mitigation ◽  
Oil And Gas Industry ◽  
Mitigation Strategies ◽  
Pareto Chart ◽  
Management Framework ◽  
Risk Management Framework ◽  
Dmaic Method

PT Gasses Logistic is one of the companies that operates in the downstream oil and gas industry that focuses on providing logistic services and other support. From oil, gasses, to lubricant, together with their partnership, PT Gasses Logistic are responsible of transporting those goods to their consumers across Indonesia. Also, PT Gasses Logistic is the subsidiary/child company from one of the biggest state-owned enterprises in Indonesia. The core business of PT Gasses Logistic is transportation, that is why every type of problem in transportation needed to be solved quickly. Through this research, it is identified 4 problems by using Pareto Chart. The problems are work & traffic accident, losses while loading & unloading operation, risk in damaging MESRAN MIN 40, and risk in damaging RORED EPA MIN 90. Those problems will be evaluated with risk management framework and analyse further using Six Sigma DMAIC method. Risk management framework will be used to identify the risk rating for each risk, which will be used when planning the mitigation strategies. Six Sigma DMAIC method will identified what is the problem, how it the performance regarding the process related to the problem, what is the root causes, how to improve it, and how to control it. After using the risk management framework and Six Sigma DMAIC method, it is found that the root causes of the problems, which is identified by using fishbone diagram tools, is People and Machine. The author then provided the risk mitigation strategies solution of improvement, the implementation plan, and how to control it. With this research, the author hopes that it will help reducing/mitigating any losses received by PT Gasses Logistic incurred by those problems.

Project risk planning in high-tech new product development

2016 ◽  
Vol 29 (2) ◽  
pp. 110-124 ◽  
Author(s):  
Jorge Ayala-Cruz
Keyword(s):  
Risk Management ◽  
New Product Development ◽  
New Product ◽  
High Tech ◽  
Project Risk ◽  
Content Type ◽  
Management Framework ◽  
Risk Management Framework ◽  
Project Risks

Purpose The purpose of this paper is to present the implementation and testing of a modified project risk management framework that integrates PMI’s framework with Monte Carlo simulation to improve the effectiveness in high-tech new product development (NPD) projects. Design/methodology/approach The modified framework considers three bodies of knowledge: project management, risk management, and Monte Carlo simulation to produce an enhance project risk management framework. Its application is shown through a case study. Findings Using the integrated framework in a recent case study project and prior NPD projects measures (as benchmarks), it was shown that it could help to enhance risk responses caused by task durations and costs’ uncertainties. The framework proved to be better than segregated generic best practices and was key in providing insight to the issue of early project risk assessment. Research limitations/implications More experimental replications are required for enhancement effectiveness assertions of the framework, through the application of the framework to similar case studies. Furthermore, this could improve its reliability and soundness. Practical implications Future directions for research could include case and empirical studies that include hypothesis’s testing, and the integration of optimization procedure for improved NPD project’s planning and execution. Originality/value This paper outlines a way to close the gap of project risks management planning in NPD’s initiatives. It was motivated by a relatively new tendency in exploring integrated frameworks to deal with complex project risks issues.

ENVIRONMENTAL RISK MANAGEMENT: A PROPOSED SCHEME

1997 ◽  
Vol 37 (1) ◽  
pp. 714
Author(s):  
H.B. Goff ◽  
R.K. Steedman
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Environmental Risk ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Transport Processes ◽  
Assessment Process ◽  
Gas Industry ◽  
Environmental Risk Management ◽  
The Impact

Environmental risk assessment is becoming an increasingly important factor in the assessment process for new projects. The oil and gas industry is familiar with assessing and managing risks from a wide range of sources. In particular, risk assessment and management is fundamental to the evaluation and implementation of Safety cases. Risk assessment is essential in valuing exploration acreage. Various industry and government risk management standards and criteria have been developed for public and occupational health and safety.This paper examines the extension of these approaches to environmental risk management for the offshore oil and gas industry and proposes a conceptual management scheme.We regard risk as the probability of an event occurring and the consequences of that event. The risk is classified into four categories, namely:primary risk, which relates to the mechanical oilfield equipment;secondary risk, which relates to the natural transport processes. For example dispersion of oil in the water column and surrounding sea;the tertiary risk, which relates to the impact on some defined part of the physical, biological or social environment; andthe quaternary risk, which relates to the recovery of the environment from any impact.Generally the methods of quantitatively analysing primary and secondary risks are well known, while there remains considerable uncertainty surrounding the tertiary and quaternary risk and they are at best qualitative only. An example of the method is applied to coral reef and other sensitive areas which may be at risk from oil spills.This risk management scheme should assist both operators and regulators in considering complex environmental problems which have an inherent uncertainty. It also proves a systematic approach on which sound environmental decisions can be taken and further research and analysis based. Perceived risk is recognised, but the management of this particular issue is not dealt with.

Sign in / Sign up

Export Citation Format

Share Document