scholarly journals Generalization of scientific and institutional prerequisites for risk management of technological integration

2021 ◽  
Vol 6 (2) ◽  
pp. 130-138
Author(s):  
A. E. Miller ◽  
◽  
L. M. Davidenko ◽  
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
New Technologies ◽  
Environmental Safety ◽  
Financial Economic ◽  
Management Control ◽  
Pure Hydrogen ◽  
Management Tools ◽  
Positive Vector ◽  
Technological Integration

The paper considers the key aspects of risk management in relation to the technological integration of economic entities. It is emphasized that the deepening of the technological chain includes the integration of resources of related production facilities and is undergoing changes in the context of accelerated digitalization, environmental transformation of the world economy. In this regard, the risk management system, which includes strategic mapping, systematization and risk assessment, as well as management control over financial, economic, scientific and technological types of risk, is of great importance. The authors highlight the trends of technological transformation of the global energy complex, which determine the promising directions of technological integration of the oil and gas sector for the development of carbon-neutral energy. As a positive vector, the development and implementation of innovations that improve environmental safety, as well as new technologies for the production of pure hydrogen from natural gas and recycling processes are shown. The conducted research allowed us to identify the scientific and institutional prerequisites for managing the risks of technological integration and to link them with risk management tools

scholarly journals Managing strategic risks from management control approach

2010 ◽  
Vol 7 (4) ◽  
pp. 9-13
Author(s):  
Xavier Sales
Keyword(s):  
Risk Management ◽  
Theoretical Work ◽  
Management Control ◽  
Financial Industry ◽  
Management Tools ◽  
Control Approach ◽  
Strategic Risk ◽  
Strategic Approach ◽  
Recent Financial Crisis ◽  
And Control

It is this conceptual paper’s intention to show the use of a management control approach to managing strategic risks. This theoretical work presents and conceptualizes strategic risk, categorizes strategic risks (examples taken from financial industry are used) and presents a management control framework to manage with these risks strategically. The paper illustrates the need to identify strategic risks proactively and to integrate risk management tools into overall company strategic management. It suggests that risk management is critical for an organization’s survival; it needs to have a company-wide strategic approach and backed by the top management of the organization. The paper also suggests that shareholders are ultimately responsible for the way the risks their companies face are managed. The recent financial crisis has generated a considerable amount of discussion around what regulators can do or could have done, while forgetting proper controls system by owners (shareholders) to influence and control the behavior of the managers of their own companies.

scholarly journals Strategies for Risk Management and Corporate Social Responsibility for Oil and Gas Companies in Emerging Markets

2016 ◽  
Author(s):  
Stephanie Stimpson ◽  
Jay Todesco ◽  
Amy Maginley
Keyword(s):  
Risk Management ◽  
Emerging Markets ◽  
Oil And Gas ◽  
New Technologies ◽  
Mitigation Strategies ◽  
Risk Area ◽  
Resource Base ◽  
Legal Risk ◽  
Risk Areas ◽  
Oil And Gas Companies

Oil and gas companies are constantly in search of opportunities to expand their resource base and create value. Emerging markets can provide companies with opportunities for significant rewards, especially in regions where oil and gas resources may be underdeveloped and where new technologies have not yet been exploited. However, emerging markets also pose numerous challenges and risks, which can potentially lead to significant legal and reputational damage. This article explores key legal risk areas for oil and gas companies in emerging markets and best practices for managing those risks and operating in a socially responsible way, recognizing that risk management centers around controlled and reasoned decision-making, not eliminating risk. The article is intended to provide a high-level overview of the key legal risk areas and mitigation strategies to serve as a guide for directors and management teams operating in these challenging regions as opposed to providing a comprehensive discussion on any particular risk area.

scholarly journals Risk Management Application in an Oil and Gas Company for Projects

2021 ◽  
pp. 1-30
Author(s):  
Fatema Abdulla AlNoaimi ◽  
Thomas A. Mazzuchi
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Descriptive Analysis ◽  
Management Strategies ◽  
Health And Safety ◽  
Structured Interview ◽  
Research Report ◽  
Continuous Variables ◽  
Management Tools ◽  
Survey Question

Oil and gas projects are at high risk and the reasons can be the adoption of complex technology, participation of different parties, etc. Oil and gas industries are often vulnerable to risks and hazards, but they overcome these problems by following tools and techniques of risk management, which results in employee and organizations safety. Based on the facts, this research report aims to evaluate and identify the risk management strategies and procedures and assess the efficiency of risk management tools in the Oil and Gas Company in the Kingdom of Bahrain. The survey was conducted among two groups using quantitative as well as qualitative methods.  One hundred twenty-four participants comprising of Engineers, Superintendents, Fire and Safety Officers, HR Managers, Health and Safety Environment Officers were among the respondents of the Survey Questionnaire. For the semi-structured interview, managers from supply and marine, Operation Specialist, Acting Manager of Health, Safety and Environment (HSE), Managers of Operational Plant Department were selected. The data collected through the survey question was analyzed using statistical analysis. The data collected through the survey questions were later imported to IBM SPSS (Statistical Package for Social Science) version 23.0 and performed descriptive analysis to explain the participants’ characteristics, discrete variables expressed as frequencies and percentages and continuous variables expressed as mean and SD. The reliability of the instrument was assessed using Cronbach’s alpha. This research indicated that around 56 % of the engineers and majority of the participating managers agree and strongly agree that the company has the Oil and Gas Company in the Kingdom of Bahrain have has implemented several safety precautions, training, and appropriate risk management tools to ensure the safety of the employees and work to eliminate any risk which could be hazardous to life and property. 

Project Risk Management

2013 ◽  
Vol 2 (4) ◽  
pp. 79-101
Author(s):  
Jan Terje Karlsen ◽  
Odin Folke-Olsen ◽  
Tim Torvatn
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Project Risk Management ◽  
Management Performance ◽  
Management Tools ◽  
Project Risk ◽  
Gas Industry ◽  
Management Processes ◽  
Contribution Index

This study is about project risk management tools. The aim has been to identify which tools have the greatest potential for contribution to risk management processes in the Norwegian oil and gas industry, and which factors contribute to efficient risk management. Empirical data from the Norwegian industry have been gathered using a questionnaire. The results revealed strong relationships between project system complexity, average tool score and risk management contribution. Furthermore, the results of the analysis show that some of the previous recommendations of tools for project risk management may have been based on a restricted set of determinants. On the other hand, similarities are also found with previous research in terms of the highest ranked tools based on perceived contribution to the risk management performance. Compared to the previous findings, this study indicates that a new measure for project management performance is needed, and that the recommendation of tools based on the risk management contribution index may be flawed. Nevertheless, it is concluded that several of the recommended tools are of great value across industries.

Project Risk Management

2015 ◽  
pp. 250-271
Author(s):  
Jan Terje Karlsen ◽  
Odin Folke-Olsen ◽  
Tim Torvatn
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Project Risk Management ◽  
Management Performance ◽  
Management Tools ◽  
Project Risk ◽  
Gas Industry ◽  
Management Processes ◽  
Contribution Index

This study is about project risk management tools. The aim has been to identify which tools have the greatest potential for contribution to risk management processes in the Norwegian oil and gas industry, and which factors contribute to efficient risk management. Empirical data from the Norwegian industry have been gathered using a questionnaire. The results revealed strong relationships between project system complexity, average tool score and risk management contribution. Furthermore, the results of the analysis show that some of the previous recommendations of tools for project risk management may have been based on a restricted set of determinants. On the other hand, similarities are also found with previous research in terms of the highest ranked tools based on perceived contribution to the risk management performance. Compared to the previous findings, this study indicates that a new measure for project management performance is needed, and that the recommendation of tools based on the risk management contribution index may be flawed. Nevertheless, it is concluded that several of the recommended tools are of great value across industries.

scholarly journals 4.2. Corruption risk management tools in the oil and gas industry

2021 ◽  
pp. 60-65
Author(s):  
О.В. Кадесникова ◽  
Т.И. Сабиров
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Practical Significance ◽  
Management Tools ◽  
Gas Industry ◽  
Oil And Gas Enterprises

В процессе исследования рассмотрены теоретико-методические основы управления коррупционными рисками, а также изучены практические аспекты совершенствования инструментария управления коррупционными рисками на предприятиях нефтяной и газовой промышленности. В результате исследования разработан алгоритм оценки коррупционных рисков на предприятии нефтегазовой отрасли. Практическая значимость заключается в том, что реализация предложенного инструментария управления коррупционными рисками на предприятиях нефтяной и газовой промышленности позволит составить карту коррупционных рисков и сформировать набор индикаторов оценки коррупционных рисков, идентифицируемых на предприятиях нефтегазовой отрасли, с целью разработки мероприятий по минимизации коррупционных рисков наиболее эффективным образом. In the course of the study, the theoretical and methodological foundations of corruption risk management were considered, as well as the practical aspects of improving the tools for managing corruption risks at oil and gas enterprises. As a result of the study, an algorithm for assessing corruption risks at an oil and gas company was developed. The practical significance lies in the fact that the implementation of the proposed corruption risk management toolkit at oil and gas industry enterprises will make it possible to map corruption risks and form a set of indicators for assessing corruption risks identified at oil and gas enterprises in order to develop measures to minimize corruption risks in the most effective way.

scholarly journals Regulatory Fracture Plugging

2018 ◽  
Vol 6 (1) ◽  
pp. 29-57
Author(s):  
Caroline Cecot
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Environmental Context ◽  
Gas Extraction ◽  
Benefit Analysis ◽  
Management Tools ◽  
Advantages And Disadvantages ◽  
Risk Uncertainty

Debates about the desirability of widespread shale development have highlighted outstanding uncertainty about its health, safety, and environmental impacts—most prominently, its water-contamination risks—and the ability of current institutions to deal with these impacts. States, the primary regulators of oil and gas extraction, face pressure from the energy industry, local communities, and, in some cases, the federal government to strike the right balance between energy production and the health and safety of individuals and the environment—an elusive balance given the ongoing risk uncertainty. This dynamic is not especially unique to fracking, or even oil and gas extraction; instead, this dynamic, characterized by tradeoffs between environmental protection and economic development under risk uncertainty, is a common theme of environmental risk regulation. Regulators at every level of government weigh and evaluate potential interventions against this background. This Article contributes to a symposium held at Texas A&M School of Law that explores the advantages and disadvantages of various government interventions in the environmental context in an effort to identify ideal risk-management tools under various circumstances. It argues that the most important considerations for identifying risk-management tools in the environmental context are risks, incentives, and cost-benefit analysis. These cornerstone principles provide a useful framework for environmental policy in general, especially in situations that involve heterogeneous and uncertain risks. By paying attention to risk, incentives, and cost-benefit analysis, government regulators are more likely to promote optimal levels of environmental quality and avoid unintended, or even perverse, consequences. To demonstrate the usefulness of these concepts concretely, this Article applies them to the fracking context, focusing on the most prominent risks from widespread shale development, risks to water from shale gas extraction. It identifies risk-management gaps in tort litigation, insurance markets, and regulation schemes and suggests potential solutions.

Design Thinking as a Tool for the Analysis of Project Risks

2019 ◽  
Vol 16 (6) ◽  
pp. 60-77
Author(s):  
E. V. Vasilieva ◽  
T. V. Gaibova
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Design Thinking ◽  
Management Tools ◽  
Project Risk ◽  
Team Members ◽  
Investment Projects ◽  
Risk Management Process ◽  
Project Objectives ◽  
Project Risk Analysis

This paper describes the method of project risk analysis based on design thinking and explores the possibility of its application for industrial investment projects. Traditional and suggested approaches to project risk management have been compared. Several risk analysis artifacts have been added to the standard list of artifacts. An iterative procedure for the formation of risk analysis artifacts has been developed, with the purpose of integrating the risk management process into strategic and prompt decision-making during project management. A list of tools at each stage of design thinking for risk management within the framework of real investment projects has been proposed. The suggested technology helps to determine project objectives and content and adapt them in regards to possible; as well as to implement measures aimed at reducing these risks, to increase productivity of the existing risk assessment and risk management tools, to organize effective cooperation between project team members, and to promote accumulation of knowledge about the project during its development and implementation.The authors declare no conflict of interest.

Milestone solution for snow removal problem in Moscow

2019 ◽  
pp. 66-72
Keyword(s):  
New Technologies ◽  
Environmental Safety ◽  
Winter Period ◽  
Special Importance ◽  
Master Plan ◽  
Infrastructure Development ◽  
Snow Removal ◽  
Surface Areas ◽  
The City ◽  
Deicing Agents

The main principle of the strategy for the complex improvement of the functioning of northern cities in winter, including their infrastructure development, is a comprehensive solution of the problem of industrial-scale snow-mass collection, removal and utilization at different areas of urban roadway networks. For its implementation in the capital of Russia, “MosvodokanalNIIproject” JSC developed in 2002 the Snow Removal Master Plan for the city of Moscow. The meteorological conditions in the city, which have changed considerably in the recent years, including the changes in the snow-cover depth and in the road-surface areas to be cleaned, as well as emerging of new technologies for the cleaning of urban streets, yards and sidewalks and some new types of deicing agents, resulted in the necessity to update the above-mentioned Snow Removal Master Plan developed for the city of Moscow. Efficient application of deicing agents is of special importance for its updating in the context of the environmental safety of the city in a winter period. The article considers the results of the implementation of the updated Snow Removal Master Plan and contains some proposals concerning snow removal under the conditions of extreme snowfalls.

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