Risk Management and Decision Making in the Petroleum Industry
October 3 -12, 2018   |  Houston



This course is designed first to give participants comprehensive knowledge of risk management and decision making in the E & P processes of the oil industry.  The course can also be tailored to specific company and department needs based on request.


 Participants are expected to understand what risk means, evaluate risk, apply risk, manage risk and make decisions.


Course outline:

  • Introduction to the oil and gas industry

  • Global trends and future of the oil and gas industry

  •  Understanding risk, evaluate risk and manage risk

  •  Hazard Identification & Evaluation (HAZID, HAZOP)

  •  Quantitative risk analysis

  •  Security threat

  •  Hazards and risk analysis

  •  Catastrophic evacuation modeling and planning

  •  Finance and investment analysis

  •  Evaluating E & P investments

  •  Corporation and Financial risk

  •  Human capital risk

  •  Project risk

  • Defining Decision Making

  • Decision Making as a managerial function

  • How Managers and Leaders make decision

  • Decision Making Processes, Techniques  and Steps

  • Decision Analysis

  • Simplifying Decision Making

  • Investment Decision Making in Oil and Gas Industry

  • Upstream and Downstream Decision Making

  • Capacity Building Decision Making

  • Decision Making Tools

  • Sensitivity Analysis

  •  Operations management and decision making

  •  Application of decision making and risk analysis

  •  Information concepts, sensitivity analysis

  •  Monte Carlo Simulations

  • Decision Making Tree Analysis

  • Uncertainty and Risk

  • Risk Events – Venn Diagrams, Probability Trees and Joint Probability Tables

  • Good and Bad Decisions

  • Analysis Paralysis

  • Implementing Decision Analysis – Problem Framing for good analysis

  • Why Managers and Smart People Sometimes Make Dumb Decisions ( Discussion)

  • Challenges and Obstacles

  • Case Studies on Good Management Decisions and Decisions that went bad- Consequences












Who should attend:

  • E&P Managers, finance managers and personnel

  • Engineering managers, geologists

  • Managers of various Departments that will benefit from this course

  • Strategic and economic planning personnel

School of Energy & Corporate Leadership (SECOL) is a global organization  that uses award winning experts in  providing training in the areas of energy, oil, gas, petrochemicals, regulations, law, leadership, organizational development , management, finance and economics. We believe strongly in the philosophy that humans are the greatest assets of any country or organization, and therefore should be nurtured with continuous quality training to enhance productivity, efficiency, effectiveness, reliability and competitiveness. SECOL will continue to create dynamic environment for capacity building, ensuring high performance, strategic agility, and leadership that would help organizations attain their goals and enable nations optimize socio- economic growth.