Risk Assessment and Decision Making In Oil and Gas Industry

Details :

This course serves as an introduction to qualitative and quantitative risk analysis, assessment
and management in oil and gas systems. Risk analysis methods are reviewed in detail. Risk
management concepts, tools and techniques are discussed with main emphasis on design and
implementation of risk management practices.

Different decision making methods based on risk assessment and management will be introduced. Various case studies related to oil and gas disciplines will be reviewed.

At the completion of this course, the students will be able to:

Ø  Be able to use qualitative risk assessment techniques in practical applications

Ø  Identify hazards and their impacts in different industries

Ø  Become familiar with risk assessment methods and analysis

Ø  Become familiar with risk management concept and application in oil and gas systems

Ø  Apply various risk assessment and management tools

Ø  Understand different sources of risk and risk factors

Ø  Develop creative risk management strategies

Ø  Become familiar with risk modeling techniques and decision models

Ø  Become familiar with accident models and their application

Ø  Explore the range of tools, techniques and processes available to improve risk management practices

Ø  Become familiar with new options and approaches for risk assessment and management

Ø  in engineering systems

Process Plant, Petroleum Refinery, and Gas Plant Technical Professionals Engineers, Operations and Maintenance professionals, as well as for Project and Consulting Engineers and Technical professionals involved in improving process plant profitability and energy efficiency


Introduction to Risk Analysis, Assessment and Management:

At the end of this section, students should be familiar with:

Ø Risk assessment and management definitions and concepts
Ø Nature of risk and its definition
Ø Role of risk management in engineering systems
Ø Decision making in risk management


At the end of this section, students should become familiar with:

Ø Risk assessment in different industries
Ø Elements of risk assessment.
Ø Event trees risk assessment
Ø Fault trees risk assessment
Ø Quantitative risk analysis
Ø Accident models and their applications
Ø Sensitivity analysis


Risk Management:

At the end of this section, students should become familiar with:

Ø Risk management principles
Ø Understanding steps involved in risk management
Ø Risk management methods
Ø Analyzing, and applying risk management techniques
Ø Failure prevention
Ø Propagation prevention
Ø Consequence mitigation
Ø Emergency response planning guides
Ø EPA Risk Management Plan



Decision Making Techniques Using Risk Information:

At the end of this section, students will develop understanding of:

Ø Benefit-Cost analysis method
Ø Cost effective analysis method
Ø Risk effective analysis method
Ø Decision tree analysis



Hazard identification and analysis:

At the end of this section, students should become familiar with:

Ø Hazard identification methods
Ø Process hazards checklists
Ø Hazards surveys and analysis
Ø Hazard and operability in industry
Ø Dow Fire and explosion index
Ø Dow exposure index

Seminar style sections with blended lectures and real life application

daily 09:00 – 14:00