Risk, Uncertainty, and Decisions in E&P Projects


Risk, Uncertainty, and Decisions in E&P Projects

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The course will focus on examining and applying qualitative and quantitative risk analysis techniques used in the Best Practice Assessment of uncertainties in a project-based enterprise.

Uncertainty is inherent in all projects and particularly in the aspects of technical, financial, schedule, legal, and quality performance. Project Risk Analysis is a body of expertise focused on the systematic and comprehensive analysis of the uncertainty in projects and project based operations.

This course qualifies for 30 PDUs.

Designed For

This course is intended for any project personnel who require an understanding of how to effectively manage risks on projects.

Course Objectives

  • Upon completion, you will know how to:
  • Review risk management and of the qualitative approach to risk management.
  • Discuss planning risk management, identifying and assessing risks, and planning response strategies.
  • Review qualitative approach to risk management
  • Use excel to perform a simulation,
  • Use specific quantitative software to perform quantitative analysis
  • Explain how quantitative analysis can be used to assess the risks to a project schedule.
  • Apply techniques to a case study project in order to achieve a more efficient schedule.


Andrew Bell