cnooc / chevron (china) - qhd_field redevelopment risk treatment methodology

QHD 32 - 6 (Bohai Bay)OIL FIELD RE-DEVELOPMENT

TECOP CORPORATE RISKS (SCOPE / COST / SCHEDULE)

RISK TREATMENT METHODOLOGY

Prepared by Angus Macleod MAPM. : conforming to ISO.IEC 31010:2009

Upstream Field Development - Risk Areas in Life-Cyclefor Capital Value Assurance (example only)

Risk Management – Business Risk Strategy for Project Execution Define Risk Management Business Level Strategy as below

Risk Management – Business Risk Tactical Strategy for Project Execution Define Risk Management Tactical Strategy as below

Risk Management – Business Risk Execution Strategy for Project Execution

Define Risk Management Execution Strategy as below

Risk Management – Business Management Strategy for Project Execution

Risk Management – Business Risk Response Strategy for Project Execution

Risk Management – Assessment Process for Project Execution

Define Project Risk Management an integral part of the Project Management Process

Proposed Risk Management Process – Introduction

Define Project Risk Management Process as below

Proposed Risk Management Process – Introduction

Identify some key elements to obtain Risk Parameters and implement the results for Upstream Project Management Decision Making

Proposed Risk Management Process – Key Elements

Identified Project Risk Management Process as a Six Stage Cycle

Proposed Risk Management Process – Life Cycle

Identify the relationships between 6 stage Project Risk Management Process

Total Cost / Schedule Effect of Risk

Proposed Risk Management Process – Relationship

Consolidate Risks and collect p10,p50,p90 estimates

Develop a flowchart to map the Risk Process & Methodologies

Proposed Risk Management Process – Flowchart

Mitigated Risks"Responsibility " by

Business Function & Project OBS RACI Chart

Methodology – Qualitative Risk Categories – Develop

RiskCategory

Supply ChainPerformance

Supply ChainDisuption

Methodology – Qualitative Scoring System – Develop

Methodology – Qualitative Risk Scoring Index – Develop

consequences

Methodology Qualitative Risk Analysis

Develop “Boston Square Matrix ” technique to model Qualitative Risk Probability / Impact

LEGEND

Quantative Risk Analysis

calculated output fromMONTE CARLO SIMULATIONMONTE CARLO SIMULATIONSS will indicate which COST / SCHEDULE ELEMENTSCOST / SCHEDULE ELEMENTS contribute to contingency creation and which RISK CATEGORIESRISK CATEGORIES contribute to contingency inflation

Definition : Monte-Carlo Simulation

Establish Risk Management as a “Continuous” Management Process

Methodology Continuous Improvement Cycle

INSERT RISK OUTPUTS FROM WORKED EXAMPLES.

CONFIDENTIALCONFIDENTIALIPR ACCESS IPR ACCESS

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