Project Risk Management, Energy & Utilities
Risk analysis of Large Upstream Project
This is the first application of the Project Risk Management process redesigned by kwantis in 2013. Kwantis intervention encompassed a complete schedule and budget risk assessment of the largest upstream development in Italy.
The project is particularly complex considering its integration in a preserved environment.
Kwantis applied the Project Risk Management guideline designed for all upstream projects of the Company, a major European Oil&Gas operator. That process provides the organization of Risk Management activities, then the identification and evaluation of each project risk issue. Successively these risk issues are combined into an integrated schedule and budget model, specifically developed on Primavera Risk Analysis.
"Highlight and quantify project criticalities"
All assumptions are collected from project experts in all areas (technical, permitting, organization, logistics, environment,...), requiring several visits onsite to catch the complexity of the project context. The quantitative model highlighted project criticalities on permitting and interfaces. It was then used to address mitigation plans, including all associated efforts and benefits (optimization scenarios).