Project Management in the Oil and Gas Industry

Identification
The identification of risks is very important. Each item must be described 
in detail so that it will not be confused with any other risk or project task 
that must be done. Each risk should be given an identification number. 
During the course of the project, as more information is gathered about the 
risk, all of this information can be consolidated.
Initially, you want to determine the risks and you can do that profes-
sionally by inviting the working team members in the project to a special 
meeting to determine the potential risks of the project. 
It is convenient to hold the meeting at an offsite location, such as in 
a hotel or another meeting room out of the work environment. This is 
mainly for two main reasons: first, the team has to start working together 
so you need discussion away from work stress to melt the ice; second, you 
need their minds free of any outside stress so they can provide knowledge 
of their previous experiences in predicting the probability of events occur-
ring, which depends mainly on the back history.
At this meeting, use the method of brainstorming so that each individual 
gives his or her own thoughts regarding expected risks during the project. 
Then, collect all these ideas and write them in the order as in the following 
table, Table 8.1. This table will be the basic document of the project.
The first component we need to discuss is the identification of the risk 
event. In the course of identifying risk events, we will call upon the proj-
ect team, subject matter experts, stakeholders, and other project managers. 
Much of the work already done in the project will be utilized in the risk 
management process. Among with these items that will be used are the 
project charter, the work breakdown structure, project description, project 
schedule, cost estimates, budgets, resource availability, resource sched-
ules, procurement information, and assumptions that have been made and 
recorded.

---

The History of Graphene 295