Explore our Course
Drilling Project Risk Management #2
The key objectives for this 2nd series of risk management training are to highlight the critical project and risk management issues involved in a well project to achieve the project mission: delivering value safely, responsibly and efficiently.
At the end of the course, participants will understand the key issues and principles in project management, they will develop an understand the challenges, choices, and compromises necessary to drill wells.
They will be able to apply these principles in practice as members of a project team to optimize the management of the well project, and to identify and manage risks to maximize value. Following the well project management process from prospect evaluation through operations and close out, participants will develop key skills needed to drill wells in any environment.
Well Project and Risk Management Principles
- Project Management Principles
- The Stage Gate Process: how this is used to create value through choice, make the right decisions at the right time, optimize resources, and ensure that the outcome achieves the mission.
- Cost vs value: ensures that the differences between price, cost, and value are understood
- Management systems: how standards are set, changes are managed, compliance is assured, and learning takes place
- Team selection: how to ensure that the team is competent, and that key stakeholders are identified and interfaces managed
- Risk management principles review; hazard, risk, uncertainty, variability, risk management
On the first day, we will define what is project management in drilling as well as the link to risk management.
- The project plan: clarity on mission, objectives, and value
- Time and cost estimation: understanding and reflecting uncertainty in realistic estimates
- Management of Change: the challenge of ensuring value – decisions not decision trees
- Contracting: selecting the right contracting approach for different services and materials
- Supply chain, logistics, and operations base: getting materials and services to the well at the right time cost-effectively
- Financial management: funding and accounting
- Management review: how to ensure that audits and management interface assures safe and responsible delivery of the project mission
The second day will focus on the essentials of a drilling project planning which is resource planning, time and cost estimation, contracting and supply chain.
Tracking Progress, Well Planning, and Operations
- Well PM software and Key Performance Indicators (KPIs): monitoring the project using value-focused KPIs; discussion of PM software, management reports, continuous improvement, benchmarking, technical limit, and KPIs
- Task progress and phase close out: ensuring early identification of potential differences in outturn time or cost to permit value-based decisions
- Well planning - Pre-drill data requirements: the site survey and shallow hazard analysis, and how this sets the stage for success
- Rig selection: on the basis of hull type, station-keeping, generation, market, crew competence, and management system
- Riser and conductor design, shallow hazards: well construction in the top hole sections
- Casing program and the mud density window: how the setting affects well design and how this is managed
The third day will focus on the essentials of a drilling project technical planning which is pre-drill data requirements, rig selection and other technical engineering design.
Operations Management and Risk Management in Action
- Contingency plans: ensuring that these are complete and meaningful
- Emergency response: how this fourth element of process safety is assured.
- Operations management: applying decision-making, technical limit, communications, in the Execute Stage of the project.
- Applying risk management tools: how a variety of tools are used to manage risk throughout the project
- Catastrophic review: what should we be learning from the event? Analysis and key factors for focus.
The fourth day of this course will focus on contingency and redundancy planning, process safety will also be discussed and operations management principles will be briefly described.
Project Success Factors in Wells
- Project success factors: sources of value, development skills, key factors in successful projects
- Human factors in well projects: understanding how human factors are key in both driving success in the project, and in managing risk, in planning, execution, and learning: Situational awareness, Decision-making, Competence, “Taking the time to do it right”, Managing change, Communications.
- Final exercise: creating a springboard for continued application of project & risk management principles in future projects.
last day of this course the participants will learn how to achieve success in drilling execution based on proper planning from the 4 previous days. Finally the elements of continuous improvement initiative in drilling execution project will also be covered.
Drilling Project Risk Management is set for the management of resources with on-going or planned drilling operations. It is also suitable for experienced drilling engineers, drilling superintendents and drilling supervisors. Participants should have basic drilling engineering and well planning experience. Additional experience with drilling operations will be helpful and will enable participants to better understand some of the consequences faced from hazards encountered in drilling activities. Pre-requisite of Introduction to Risk, Uncertainties and Risk Management (RM1) course is recommended.
- Instructor 1
- A woman which is both skilled and experienced in Gas, Petroleum, Oilfield, Tubing, and Well Testing, She is an Senior Drilling Engineer and experienced in covers many oil & gas clients such as Caltex, Qatar Gas, OXY, Ras Gas, Talisman, Total, Encana and Maersk. During Her study at Texas A&M University she was also active in conducting experiment and publishing some papers for the Petroleum Department.
- Instructor 2
- An established Well Construction Engineer with Floater Operations, 3D ERD wells, HPHT & MPD experience outside of normal conventional land operations. Total of 40 wells planned and 29 wells drilled. Petroleum Engineer background with MBA Degree and 15 years of Oil & Gas Industry experience within Service and Operator Company.