Global Learning for Operational Leaders
Course OG-013
Integrated Risk & Uncertainty Analysis for Capital Projects in Oil & Gas
Capital projects in oil & gas involve large investments, long execution horizons, and multiple layers of technical, comm... The outline covers Fundamentals of Risk in Capital Projects, Quantitative Risk Assessment Techni...
- 5 daysClassroom or online
- 17Upcoming dates
- 8Cities
- €1,625Fees from
Classroom
17 sessions
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Online / Live
17 sessions
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Introduction
Course overview
Capital projects in oil & gas involve large investments, long execution horizons, and multiple layers of technical, commercial, and operational uncertainty. Without an integrated approach, risks are often managed in isolation, leading to incomplete visibility and suboptimal decisions.
This course provides a structured, end-to-end approach to identifying, quantifying, and integrating risk and uncertainty across the full project lifecycle. Participants will learn how to connect cost, schedule, technical, and operational risks into a unified decision-support framework.
What you will achieve
Learning objectives
- Apply integrated risk management across capital project phases
- Identify and link multiple sources of project uncertainty
- Quantify and evaluate combined cost, schedule, and performance risks
- Develop risk-integrated project decision frameworks
- Improve capital allocation and investment decisions
- Strengthen governance and reporting of project risks
Who should attend
Target audience
- Project Managers and Project Engineers
- Capital Project and Construction Managers
- Risk and Planning Professionals
- Cost Engineers and Project Controls Specialists
- Investment and Portfolio Decision-Makers
- Oil & Gas Technical and Operational Leaders
Methodology
Learning approach
- Real oil & gas capital project case studies
- Interactive workshops and group exercises
- Scenario-based risk modeling discussions
- Step-by-step guided frameworks for integration
- Practical tools and templates for project use
Complete course outline
Five focused days of learning and application
The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.
Day 1
Fundamentals of Risk in Capital Projects
- Overview of capital project lifecycle in oil & gas
- Types of risks: technical, financial, operational, and external
- Understanding uncertainty vs. variability in projects
- Risk management frameworks and standards
- Coffee break
- Risk management frameworks and standards (continued)
- Building a structured risk breakdown structure (RBS)
- Qualitative risk identification and prioritization
Day 2
Quantitative Risk Assessment Techniques
- Introduction to quantitative risk analysis
- Probability concepts and uncertainty modeling
- Cost and schedule risk analysis fundamentals
- Sensitivity analysis and key risk drivers
- Coffee break
- Sensitivity analysis and key risk drivers (continued)
- Introduction to simulation-based risk modeling concepts
- Interpreting quantitative risk outputs for decision support
Day 3
Integration of Cost, Schedule & Technical Risks
- Linking cost, schedule, and technical uncertainty
- Dependency and correlation between risks
- Integrated risk modeling approaches
- Scenario analysis for capital projects
- Coffee break
- Scenario analysis for capital projects (continued)
- Stress testing project assumptions
- Workshop: building an integrated risk model
Day 4
Risk-Based Decision Making in Capital Projects
- Decision analysis under uncertainty
- Evaluation of project alternatives using risk-adjusted metrics
- Investment decision frameworks (CAPEX prioritization)
- Risk appetite and tolerance in capital allocation
- Coffee break
- Risk appetite and tolerance in capital allocation (continued)
- Value of information and decision improvement
- Case study: capital project approval decision
Day 5
Embedding Integrated Risk into Project Governance
- Integrating risk into project controls and governance
- Risk reporting for senior management and boards
- Communicating uncertainty effectively
- Lessons learned from major oil & gas projects
- Coffee break
- Lessons learned from major oil & gas projects (continued)
- Best practices in integrated risk management
- Final group case study and presentations
Course FAQs
Questions about this course
What participants and training managers usually ask before booking Integrated Risk & Uncertainty Analysis for Capital Projects in Oil & Gas. Can't find your answer?
What does Integrated Risk & Uncertainty Analysis for Capital Projects in Oil & Gas (OG-013) cover?
This course covers Oil and Gas through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 9 - 13 November 2026. See the course schedules section for the available dates and delivery formats.
Who should attend this course?
Project Managers and Project Engineers, Capital Project and Construction Managers, Risk and Planning Professionals
Is bilingual course delivery available?
Yes. All course materials and presentations are provided in English, while bilingual explanation and discussion support may be available depending on the selected location and trainer availability. For example, when attending a course in Istanbul, you may request a Turkish-speaking trainer to explain the English course content in Turkish. Arabic explanation support may also be requested at this location. Other languages are available in selected cities. You can choose your preferred language support as an optional preference during registration.
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Check the course schedules section for currently published classroom and Online / Live sessions.
Where are classroom sessions delivered?
Current classroom venues include Barcelona, Kuala lumpur, London, Vienna, Amsterdam, Munich, Cape Town, Paris.
How long is the training programme?
The programme runs for five days from 09:00 to 14:00, which gives 25 contact hours, including a daily 30-minute break (22.5 hours of instruction).
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