Introduction to Risk, Uncertainties and Risk Management #1 Introduction to Risk, Uncertainties and Risk Management #1

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Introduction to Risk, Uncertainties and Risk Management #1

During this 1st series of risk management training participants will learn risk, uncertainties and risk management principles and where or in which industries these principles are being applied. Attendees will experience a holistic problem framing, risk analysis, results interpretation and managing risks.

Participant will have the opportunity to learn about differences of risk and uncertainties, definitions of each, deterministic and probabilistic analysis with available tools and how to interpret the results.

The main goal of this risk management training will be to teach participants how to apply the critical project and risk management concepts that are required to run projects in a safe, efficient, cost-effective, and environmentally-friendly manner.

By the end of the course, participants should be familiar with the key issues and principles associated with projects and risk management, as well as how to apply those learned skills. Participants will also learn how to integrate these principles in the asset or project teams to optimize the management of project and manage identified risks in order to increase the value of a project.

Course Info



Day 1

Definitions & Perspectives

  • What is risk and hazards
  • What is Uncertainty and variability
  • Putting definitions into context

On the first day, we will define all the jargons and deduct it into context.  There will be plenty of explanations from different perspectives based on the western (Occidental) or eastern (Oriental) views.

Introduction to Risk Management

  • Overview of risk management within various industries
  • Why manage risks
  • Framing the Uncertainty and Variability
  • Introduction to risk management

The second day will focus on applications of risk management and concepts of risk in different perspectives. There will be class discussions on real world problems of how managers and engineers perceive data will finish the day.


Day 2

Risk Management System

  • Risk management process
  • Levels of risk management
  • Hazard Identification
  • Managing Uncertainty and Variability

The third day of this course will tie together the elements covered in this course so participants will better understand how to identify, quantify, manage risk and understand the usage of qualitative and quantitative risk management tool. This will include the administration, operational, and management aspects of risk. Participants will be able to better understand how risk management is integrated into their daily routines and apply this knowledge to their job.


Risk Registers and Software as Tools

  • How to identify, analyze, register and asses risk
  • Risk management strategy
  • Valuation or Quantification of risks
  • Risk Management Tools

The fourth day of this course will focus on identifying, analyzing, registering and assessing risks. Participants will learn the use of available tools to identify, analyze, register and asses risk. Valuation or quantification of risk will also be discussed.

Day 3

Treating Risk

  • Which ones to treat?
  • Corporate and Regulatory Requirements
  • Prevent, mitigate or both
  • Risk Treatment Plan & Business Excellence
  1. last day of this course the participants will learn how to treat risk which is the crux of risk management system. the function and importance of risk treatment plan and business excellence. Finally the elements of business excellence as part of continuous improvement initiative in Risk Management will be covered.


Introduction to Risk, Uncertainties and Risk Management Training is set for general, since all working unit within an oil & gas operator will need to know about risk and uncertainties.


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. 

Mr. Agung Pratama

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.


This Introduction to Risk, Uncertainties and Risk Management Training will be held several times in Indonesia throughout 2020. It will be held in 5 star hotel with minimum 5 participants and maximum 15 participants. The accommodation during the course includes: training kit, training material, certificate, free coffee break and lunch per day during the course and once dinner. Click the Register button based on your preference dated to join this training!

Location Start Date End Date Price Register
Online (for Public)
08 Dec 2021
10 Dec 2021
700 USD/person