Implementing Risk Management within Middle Eastern Oil and Gas Companies

After reading Chapter 20, Implementing Risk Management within Middle Eastern Oil and Gas Companies, please answer the following questions pertaining to the company and submit your MS Word document to dropbox:

1. Prior to Risk Management Information Gathering Exercise discussed earlier in the chapter case, consider the challenges of the newly formed project team in undertaking Risk Management in such a situation.
2. a. Discuss the challenges and consider how each of the departments might interact with and support Risk Management across the organization. b. What are the major differences between IT and Project Management, considering they were both part of the initial Risk Management pilot? How might they have overcome this?
3. a. What do you think were the major positives of the approach undertaken with regard to the risk management information gathering exercise? b. What do you think were the challenges and pitfalls of gathering data in the way that they did?
4. What are the key challenges to the risk framework and risk approach proposed in 2011 by the risk management team?
5. Using the supporting documentation along with the case study information (Exhibits 20.9, 20.10, 20.11, and 20.12), provide a list of potential corporate risks that might have been identified by the project team.

Details

• Apply critical thinking and the learning from the major objectives of this week’s material.
• Formal writing and all APA formats are required.
• You MUST include a minimum of one quality SPC online library source to support your ideas as well as your textbook.
• Page Count: Minimum of three pages not including the title page and reference page