Risk Management in Power and Utilities

Overcome the huge risk challenges in projects whose scale, complexity and visibility challenges are unique to the Energy Industry.

This highly practical and interactive programme will allow you to:

  • Review the strategic drivers within the Energy industry which determine how we should be tackling risk management for our projects
  • Understand why Energy projects fail and how to avoid this within your own activity
  • Get to grips with key steps to setting up a sound risk management process for any project
  • Evaluate the key factors which drive project risk management success and the vital need for a multi-disciplinary team to provide alternative perspectives
  • Compare best practice with colleagues from across the global industry
  • Learn in a dynamic, highly interactive and practical environment that will provide you with skills and knowledge to improve your personal and project performance
  • Examine and identify any weaknesses in your current project risk management processes and how to set up appropriate changes and required governance to counteract those shortcomings


What is the programme about?

Risk management is a core skill which needs to be carried out more effectively than ever before due to the scrutiny that our activities are placed under on a daily basis. Given the scale, global nature and value of projects in the Energy industry, this requirement is particularly relevant. Recent environmental disasters, geo-political situations and economic instability have increasingly highlighted the need for applying a risk aware structure to all your projects to manage and control your risks, and mitigate against resultant impacts.
This interactive and challenging programme provides an opportunity to understand how best to protect value in the capital intensive project environment that we work in. The course is designed to enable practical lessons from the industry to be learnt and applied in a supportive environment to enhance the knowledge and capabilities of
each participant.
The expert programme director will review the risk process and how best to apply it over the full project lifecycle. Techniques for identifying, analysing, planning risk responses, and monitoring and controlling risks will be explored and practiced. At all times being mindful of the need for sound health, safety, environmental and reputational factors to be properly managed from the risk perspective.

Key learning points include:

  • Core concepts and principles of risk management unique to Energy Industry projects
  • Risk identification and measurement of industry specific risks including geo-political, environmental and economic
  • Applying a systematic project risk management process to a realistic industry project case study
  • Alternative risk identification techniques and their strengths and applicability
  • Evaluation of resource effectiveness of alternative responses
  • Key lessons and critical success factors for successful project risk management the Energy Industry
KEY FEATURE: Power Industry Case study – based on a power station construction project will run throughout the programme and the key learnings will be applied to illustrate practical application, outcomes and highlight the common pitfalls and understand the full project lifecycle.

This programme is essential to all professionals working in the Power and Utilities sector, including: 

  • Project Managers, Project engineers
  • Risk Managers and those with specific risk responsibilities
  • Project sponsors and managers
  • Purchasing and procurement managers who will be supporting projects
  • Contractors and consultants contributing to projects
  • Operational staff who need to interface with projects or represent the operational perspective on a project
  • HSE staff interfacing with project activities
  • Governance and auditors who will be reviewing or auditing project performance
  • Anyone who needs to contribute to managing risk


Project Risk Management Fundamental Concepts and Terminology
  • Understanding Risk and its application in the Energy Industry
  • Risk: threats and opportunities
  • Business versus project risk
  • Understanding the business context – balancing technical challenge with business justification
Introduction to the Risk Process
  • Overview of risk processes and understanding the most effective approach for an Energy Industry project
  • Compliance with Corporate/Organizational approach
  • Roles and responsibilities
Risk Management Planning
  • The components of the Risk Management Plan
  • Understanding the methodology
  • Use of risk categories – modifications to standard categories relevant to the Oil & Gas Industry
  • Defining probability and impact scales – how to handle the particular challenge of megaproject impacts
  • Developing the appropriate risk matrix
  • Determining reporting formats and tracking mechanisms and audits
Risk Identification
  • Risk identification inputs
  • Tools and techniques of risk identification and their strengths and weaknesses
  • Key techniques used in the Energy Industry and critical success factors to enhance their application
  • Risk workshop critical success factors
  • Assumptions analysis
  • Sabotage teams
  • Bow-tie methodology
  • The vital importance of a quality risk statement
Risk Analysis
  • Qualitative, semi-quantitative and quantitative analysis
  • Tools and techniques for risk analysis
  • Further factors to consider – the people side of risk
  • Evaluating the results
  • Risk exposure calculations
  • Risk monetization



Planning Risk Responses
  • Risk response strategies
  • Threat strategies
  • Opportunity strategies
  • Contingent response strategies
  • Analytical selection process – ensuring the protection of value in a capital intensive project environment
  • Developing effective action plans – structure, content and approval considerations
Advanced risk techniques and how they are applied in Energy Industry projects
  • The applicability of Monte Carlo analysis in the project lifecycle
  • Schedule risk analysis
  • Cost risk analysis
  • Understanding and interpreting the outputs of risk analysis
Monitoring and Controling risks
  • Determining appropriate reporting and escalation of risks including legal considerations
  • Risk auditing – compliance versus value added
  • Variance and trend analysis
  • Reserve analysis techniques applicable to large scale capital intensive projects
Embedding the Process
  • Critical success factors for developing a sound risk culture in the Energy industry
  • Incorporating lessons learned for managing risks into the organisation
  • Key findings and learnings from the Energy industry




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Testimonials for our Courses

“A very warm and professional team.Thoroughly enjoyed the course.”

Delivered by

Derek Bell is a highly experienced and qualified international consultant and certified trainer a

Dates & Locations

This course is only available as a custom course tailored for your business, contact us to discuss your requirements.