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Thesis Assistance

6 replies [Last post]
Tue, 2009-03-31 06:41
Neil Brady
User offline. Last seen 15 years 36 weeks ago. Offline
Joined: 4 Jan 2007
Posts: 35
Groups: Petro-Chem / Oil & Gas
Folks (Posting here too as it gets more traffic!)

I am currently in the throws of starting a Thesis for my Masters Project Management.

I am doing it on Programme (Multi project) risk management within the oil and gas services industry.

I was wondering if anyone here has any knowledge of this, specifically I am looking for some information on the following

1. What are the barriers towards implementing this approach if this is not already in place ?
2. Does your company do it ?
3. Is it successful ?
4. Anyone know of any good research thats been done into this ?

I am sure I will think of more questions after my lunch


Your thoughts as always are appreciated !!!!!

Neil
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Replies

Tue, 2009-04-07 21:37
#1
Abed Prnd
User offline. Last seen 14 years 11 weeks ago. Offline
Joined: 26 Feb 2009
Posts: 37
Groups: Civil Engineering
My Dear,
I’ve got some papers regarding project risk management. Some are old but can give great insights into scientific aspects of risk management. Take a look on titles, if some titles seem useful (caught your eye) and also you couldn’t get a copy of them via internet or the nearest library, I can send you a soft copy. Let me know then.
Regards,

----------------------------------------------------------
JOURNAL: SAFETY SCIENCE (2002):
•Risk assessment in the offshore industry
Abstract:
Risk assessments may be based on both qualitative and quantitative
Methods, the main focus here will be on quantitative risk assessments (QRA).The development of offshore QRA has been lead by a mutual influence and interaction between the regulatory authorities for the UK and Norwegian sectors of the North Sea as well as the oil companies operating here. The experience from this area has been the main basis during the writing of this paper.
------------------------------------------------------------
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, (2005):
•On the fallacy of averages in project risk management
Abstract:
Managers recognize the presence of uncertainty in the estimates of the various parameters of their projects, but usually circumvent the required analysis (which can be demanding) by replacing the random variables by their averages. This paper argues against such practice. It demonstrates that gross errors can be committed in cost estimates and in the bids based on them.
------------------------------------------------------------
JOURNAL OF CONSTRUCTION ENGINEERING AND MANAGEMENT, ASCE (2004):
•Risk Assessment Methodology for Underground Construction Projects
Keywords: Risk analysis; Uncertainty principles; Fuzzy sets; Underground construction.
•Risks in Chinese Construction Market—Contractors’
•Multicriteria Financial Portfolio Risk Management for International Projects
------------------------------------------------------------
JOURNAL: BUILDING AND ENVIRONMENT (2004):
•Risk analysis in fixed-price design–build construction projects
Keywords: Risk analysis; Construction; Contract system; Design–build; Monte Carlo simulation
------------------------------------------------------------
INTERNATIONAL JOURNAL OF PROJECT MANAGEMENT:
•The risk ranking of projects: a methodology
•The controlling influences on effective risk identification and assessment for construction design management
•Project risk management in the Queensland engineering construction industry: a survey (2004)
------------------------------------------------------------
JOURNAL: ADVANCES IN ENGINEERING SOFTWARE ,(2001):
•A fuzzy approach to construction project risk assessment and analysis: construction project risk management system
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Tue, 2009-04-07 15:03
#2
Paul Hodgson
User offline. Last seen 9 years 1 week ago. Offline
Joined: 30 May 2003
Posts: 15
Groups: None
Neil

I prepared a dissertation last year and I know the frustrations you will be experiencing at this time.

During my studies for an MSc I completed an assignment (3,800 word) entitled “Evaluating Programme Risk with Quantitative Analysis”. It was a general overview of the principles but did include some of my own personal programme risk experiences gained in the Railway Sector. If you think it will be of benefit to your research let me know and I will mail you a soft copy.

Good luck with your Thesis.
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Tue, 2009-04-07 07:15
#3
Oliver Melling
User offline. Last seen 5 years 15 weeks ago. Offline
Joined: 24 Apr 2007
Posts: 595
Groups: The GrapeVine
Neil,

I wrote an MSc Thesis on Project and Programme Management in the nuclear industry.

If you look on the Nuclear Decommissioning Authority website you will find their procedures for risk management. These can be used for comparison as both petrochem and nuclear are highly regulated industries.

You should also look at the PMI and APM ’Bodies of Knowledge’ for info on risk management as they are what most companies work towards in terms of ’best practice’.

You may also want to look for papers written on specific areas of risk management such as project management related risk, financial risk, schedule risk, procurement associated risk, health and safety associated risk. All are can be present on a project and impact each other.
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Tue, 2009-04-07 06:59
#4
Neil Brady
User offline. Last seen 15 years 36 weeks ago. Offline
Joined: 4 Jan 2007
Posts: 35
Groups: Petro-Chem / Oil & Gas
Anyone have an opinion on this subject at all ?
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Wed, 2009-04-01 02:19
#5
Neil Brady
User offline. Last seen 15 years 36 weeks ago. Offline
Joined: 4 Jan 2007
Posts: 35
Groups: Petro-Chem / Oil & Gas
Dave

Thanks for the reply.

In the UK there is no legal requirement to carry out Programme risk management (That i am aware of)

I am interested on the opinions of people who are in companies that currently carry out programme risk management, and very interested in anyone who might have seen it implemented, who could comment on the barriers that they encountered during the implementation.

So either or, If your company has the minimum required or a sophisticated management scheme (Although I would wonder what a minimum would be, as programme risk management by its very nature is not what I would class as a simple subject)

very keen to hear all opinions on it !

Neil
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Wed, 2009-04-01 01:54
#6
Dave Crosby
User offline. Last seen 10 years 24 weeks ago. Offline
Joined: 8 Oct 2008
Posts: 79
Groups: Civil Engineering, Content Moderators, Petro-Chem / Oil & Gas
Hi Neil,

You didn’t say what approach you are asking about.

A "Programme (Multi project) risk management" could amount to a company policy statement, it could be the minimum required by law or it could be an extensive and sophisticated management scheme.

Cheers,

Dave.
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