Operations Risk Management and Control Systems

Introduction:

Operational excellence in the Oil & Gas industry demands more than efficiency — it requires mastery of risk anticipation, control systems, and organizational resilience.

In a sector characterized by volatility, high capital intensity, and stringent safety standards, the ability to identify, assess, and mitigate operational risks is central to sustainable performance and strategic success.

This executive-level program delivers a comprehensive approach to building and strengthening operational risk frameworks, integrating advanced control mechanisms, and embedding a culture of accountability, reliability, and proactive governance. Participants will gain insight into global best practices, cutting-edge technologies, and real-world case studies from leading energy organizations.

Objectives:  

By the end of this program, participants will be able to:

1. Understand the strategic dimensions of operational risk management in high-risk industries.
2. Design and implement robust control systems aligned with corporate governance and international standards.
3. Identify, analyze, and mitigate key operational and safety risks.
4. Integrate data analytics, digital tools, and automation into risk monitoring frameworks.
5. Enhance decision-making and crisis response through effective governance structures.
6. Build organizational resilience through proactive risk culture and leadership engagement.
7. Align risk management practices with ESG, sustainability, and performance excellence goals.

Target Audience:

This program is designed for senior leaders and professionals responsible for ensuring operational integrity and business continuity in complex industrial environments, including:

Ø  Operations and Plant Managers

Ø  HSE and Risk Management Executives

Ø  Process Safety and Reliability Engineers

Ø  Internal Audit and Compliance Leaders

Ø  Corporate Governance and Control Specialists.

Course Outline:

Day 1 – Fundamentals of Operational Risk Excellence

1.     The Nature and Dynamics of Operational Risks in Oil & Gas

2.     Strategic Importance of Risk Management for Asset Integrity

3.     Global Standards: ISO 31000, COSO ERM, and API RP Frameworks

4.     Building a Culture of Risk Awareness and Accountability

Day 2 – Risk Identification and Assessment Methodologies

1.     Systematic Risk Mapping and Prioritization

2.     Quantitative and Qualitative Risk Analysis Tools (HAZOP, FMEA, Bow-Tie)

3.     Integrating Risk Assessments into Daily Operations

4.     Leveraging Technology and AI for Predictive Risk Analytics

Day 3 – Control Systems and Operational Safeguards

1.     Principles of Internal Control and Operational Governance

2.     Control Frameworks for Process Safety, Quality, and Asset Reliability

3.     Monitoring and Auditing Mechanisms for Continuous Assurance

4.     Digitalization and Automation in Control Systems

Day 4 – Crisis Management, Incident Response, and Recovery

1.     Early Warning Indicators and Escalation Protocols

2.     Emergency Preparedness and Response Frameworks

3.     Business Continuity and Disaster Recovery Planning

4.     Case Studies: Learning from Global Industrial Incidents

Day 5 – Strategic Integration and Future Readiness

1.     Linking Operational Risk to Enterprise Risk and Strategy

2.     Performance Measurement and Risk Reporting Systems

3.     ESG, Sustainability, and Governance Alignment

4.     Future of Risk Management: AI, Cyber-Physical Systems, and Smart Monitoring