Risk management is considered a standard day-to-day management activity in the oil industry. Technical and project risks need to be identified, assessed, prioritized, and action taken. The risk profile of the project needs to be continuously monitored and reported. Indeed, risk management has been identified through research as the most important activity predicating on time delivery of projects. But what leads to the failure of this process to prevent or mitigate risk happening?

This case study will use a real life example to explore the ways in which risk management can fail to control risk in the way expected. Delegates will work in small groups through a specially written case study of an exploration project. Through this work the risk management process will be reviewed. Attention will be drawn to the effects of poor processes and poor behaviors. Ways to overcome these challenges will be discussed, with examples from real life used to give context and insight.

The presentation is highly interactive, with delegates working in small groups for half the presentation. The presenter will work with the groups on one-to-one basis, as well as facilitating group learning processes.