A PMI Registered Training Course

Managing Project Risks in the Oil & Gas Industry

Minimising Uncertainties in Highly Complex Environments

29 Dec - 02 Jan 2026
Dubai
| $5950
09 - 13 Feb 2026
Dubai
| $5950
01 - 05 Jun 2026
Dubai
| $5950
31 Aug - 04 Sep 2026
Dubai
| $5950
21 - 25 Sep 2026
Dubai
| $5950
28 Dec - 01 Jan 2027
Dubai
| $5950
09 - 13 Feb 2026
Online
| $3950
21 - 25 Sep 2026
Online
| $3950

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 Learning Outcomes

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:

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.

Managing Project Risks in the Oil & Gas Industry

Who Should Attend?

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.

Learning Journey Breakdown

  • 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
  • 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
  • Qualitative Risk Analysis
  • Bow-Tie Risk Analysis
  • Risk Matrix Sizing
  • Quantitative Risk Analysis
  • Monte Carlo Simulations
  • Decision Trees & EMV
  • Risk Management through Integrity Assurance
  • Risk Prioritisation
  • Risk Response Strategies
  • Response Planning & Analysis
  • Alternative Responses
  • Response Validation
  • Contingency & Management Reserves
  • Resource Management
  • Risk Control Guidelines
  • Escalating Risks
  • Risk Reporting & Documenting
  • How to Identify and Feedback Lessons Learned
  • Course Summation & Work Session Review

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