Where is this course held?

Upcoming sessions run in Kuala Lumpur, London, Barcelona, Vienna, Amsterdam, Munich, Cape Town, Paris.

How much does the course cost?

Fees start from £2,250 per delegate, depending on the city. Fees include tuition and course materials.

Do participants receive a certificate?

Yes. Delegates who complete the course receive a London Leadership Management Innovation certificate of completion.

Can this course be delivered in-house for our team?

Yes. LLMI can tailor and deliver this course privately for your organisation at your premises or in one of our training cities.

Integrated Risk & Uncertainty Analysis for Capital Projects in Oil & Gas (OG-013) Training Course

Q: How long is the Integrated Risk & Uncertainty Analysis for Capital Projects in Oil & Gas course?

The course runs over 5 days of classroom training, usually Monday to Friday.

Q: When is the next Integrated Risk & Uncertainty Analysis for Capital Projects in Oil & Gas course?

The next public date is 16 - 20 Nov 2026 in Kuala Lumpur. There are 16 upcoming dates in total.

Q: Can I take Integrated Risk & Uncertainty Analysis for Capital Projects in Oil & Gas online?

Yes. Every date can also be joined live online in a virtual classroom with the trainer, for £1,280 per participant. Choose "Live online" in the dates table when you register.

Course overview

Why Attend

Capital projects in oil & gas involve large investments, long execution horizons, and multiple layers of technical, commercial, and operational uncertainty. Without an integrated approach, risks are often managed in isolation, leading to incomplete visibility and suboptimal decisions.

This course provides a structured, end-to-end approach to identifying, quantifying, and integrating risk and uncertainty across the full project lifecycle. Participants will learn how to connect cost, schedule, technical, and operational risks into a unified decision-support framework.

Course Methodology

The program is highly practical and application-focused:

Real oil & gas capital project case studies
Interactive workshops and group exercises
Scenario-based risk modeling discussions
Step-by-step guided frameworks for integration
Practical tools and templates for project use

Course Objectives

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

Apply integrated risk management across capital project phases
Identify and link multiple sources of project uncertainty
Quantify and evaluate combined cost, schedule, and performance risks
Develop risk-integrated project decision frameworks
Improve capital allocation and investment decisions
Strengthen governance and reporting of project risks

Target Audience

This course is suitable for:

Project Managers and Project Engineers
Capital Project and Construction Managers
Risk and Planning Professionals
Cost Engineers and Project Controls Specialists
Investment and Portfolio Decision-Makers
Oil & Gas Technical and Operational Leaders

Target Competencies

Participants will develop competencies in:

Integrated risk and uncertainty analysis
Quantitative and qualitative risk assessment
Project cost and schedule risk integration
Scenario and sensitivity analysis
Risk-based decision-making for capital projects
Strategic communication of project risk

Course outline

1Day 1: Fundamentals of Risk in Capital Projects
- Overview of capital project lifecycle in oil & gas
- Types of risks: technical, financial, operational, and external
- Understanding uncertainty vs. variability in projects
- Risk management frameworks and standards
- Building a structured risk breakdown structure (RBS)
- Qualitative risk identification and prioritization
2Day 2: Quantitative Risk Assessment Techniques
- Introduction to quantitative risk analysis
- Probability concepts and uncertainty modeling
- Cost and schedule risk analysis fundamentals
- Sensitivity analysis and key risk drivers
- Introduction to simulation-based risk modeling concepts
- Interpreting quantitative risk outputs for decision support
3Day 3: Integration of Cost, Schedule & Technical Risks
- Linking cost, schedule, and technical uncertainty
- Dependency and correlation between risks
- Integrated risk modeling approaches
- Scenario analysis for capital projects
- Stress testing project assumptions
- Workshop: building an integrated risk model
4Day 4: Risk-Based Decision Making in Capital Projects
- Decision analysis under uncertainty
- Evaluation of project alternatives using risk-adjusted metrics
- Investment decision frameworks (CAPEX prioritization)
- Risk appetite and tolerance in capital allocation
- Value of information and decision improvement
- Case study: capital project approval decision
5Day 5: Embedding Integrated Risk into Project Governance
- Integrating risk into project controls and governance
- Risk reporting for senior management and boards
- Communicating uncertainty effectively
- Lessons learned from major oil & gas projects
- Best practices in integrated risk management
- Final group case study and presentations

Schedule

Dates and fees

16 upcoming dates in 8 cities. Fees are per delegate; bring colleagues and every seat is discounted. Every date can also be joined live online for £1,280.

All dates as PDF

November 2026

16NOV 16 - 20 Nov 2026Mon to Fri · 5 daysNext session

Kuala LumpurMalaysia · Classroom

£2,850per delegate2+ people: £2,280 each

December 2026

7DEC 7 - 11 Dec 2026Mon to Fri · 5 daysOur home city

LondonUnited Kingdom · Classroom

£2,750per delegate2+ people: £2,200 each

14DEC 14 - 18 Dec 2026Mon to Fri · 5 days

BarcelonaSpain · Classroom

£4,250per delegate2+ people: £3,400 each

21DEC 21 - 25 Dec 2026Mon to Fri · 5 days

ViennaAustria · Classroom

£4,200per delegate2+ people: £3,360 each

January 2027

18JAN 18 - 22 Jan 2027Mon to Fri · 5 days

AmsterdamNetherlands · Classroom

£4,250per delegate2+ people: £3,400 each

February 2027

15FEB 15 - 19 Feb 2027Mon to Fri · 5 days

MunichGermany · Classroom

£4,250per delegate2+ people: £3,400 each

March 2027

15MAR 15 - 19 Mar 2027Mon to Fri · 5 days

Cape TownSouth Africa · Classroom

£2,840per delegate2+ people: £2,272 each

April 2027

19APR 19 - 23 Apr 2027Mon to Fri · 5 days

BarcelonaSpain · Classroom

£3,850per delegate2+ people: £3,080 each

May 2027

17MAY 17 - 21 May 2027Mon to Fri · 5 days

MunichGermany · Classroom

£4,250per delegate2+ people: £3,400 each

June 2027

21JUN 21 - 25 Jun 2027Mon to Fri · 5 days

Kuala LumpurMalaysia · Classroom

£2,250per delegate2+ people: £1,800 each

July 2027

19JUL 19 - 23 Jul 2027Mon to Fri · 5 days

AmsterdamNetherlands · Classroom

£4,250per delegate2+ people: £3,400 each

August 2027

16AUG 16 - 20 Aug 2027Mon to Fri · 5 daysOur home city

LondonUnited Kingdom · Classroom

£2,750per delegate2+ people: £2,200 each

September 2027

20SEP 20 - 24 Sep 2027Mon to Fri · 5 days

ParisFrance · Classroom

£3,250per delegate2+ people: £2,600 each

October 2027

18OCT 18 - 22 Oct 2027Mon to Fri · 5 daysOur home city

LondonUnited Kingdom · Classroom

£2,750per delegate2+ people: £2,200 each

November 2027

15NOV 15 - 19 Nov 2027Mon to Fri · 5 days

AmsterdamNetherlands · Classroom

£4,250per delegate2+ people: £3,400 each

December 2027

20DEC 20 - 24 Dec 2027Mon to Fri · 5 daysOur home city

LondonUnited Kingdom · Classroom

£2,750per delegate2+ people: £2,200 each

Live online, on the same dates

Join the class in real time from your office or home: live sessions with the trainer, group discussion, course materials and a certificate of completion. Joining details are emailed before the course starts.

November 2026

16NOV 16 - 20 Nov 2026Mon to Fri · 5 daysNext session

Live onlineVirtual classroom · join from anywhere