INTRODUCTION:
All phases of the business cycle present a variety of political hazards to the oil and gas industry. The strategic management of these risks can significantly affect the value realized and determine whether a project succeeds or fails. According to a 2014 McKinsey report, these risks might put up to 70% of earnings at risk.
Participants in this training course on managing political risk for the oil and gas industry will gain a comprehensive grasp of how political risk is assessed and managed in this industry. This GLOMACS training course will give you the tools you need to recognize and evaluate political risks, as well as their particular effects on your project or business. It will also offer solutions.
OBJECTIVES
By the end of this training course, participants will learn:
- Recent trends and developments in sources of Political Risk
- In-depth insight into how to analyse and mitigate political risks facing your business
- The ability to develop and implement a fit for purpose strategy to manage political risk to support your business needs
- Knowledge of a wide range of tools and tactics to use to improve your ability to manage political risks in a wide variety of situations
- The latest ideas and concepts to mitigate Political Risk
- Insight into how to create synergies with other functions within your organisation and with external parties
ORGANISATIONAL BENEFIT
- Enhance awareness of best practice in Political Risk management
- Improve the ability to analyse and mitigate Political Risk
- Improve the organization’s capability for designing and implementing effective Political Risk management strategies
- Improve the organisation’s capability to map and understand its stakeholders
- Improve ability to identify and implement win-win solutions to manage Political Risk
PERSONAL BENEFIT
- Enhance capability of attendees to use a wide range of tools and strategies to manage Political Risk
- Increase knowledge of global trends in Political Risk
- Increase the knowledge of different approaches to analyzing and mitigating Political Risk
- Increase the skill to implement strategies for Political Risk management
- Enhance the capabilities of attendees to collaborate with other functions to implement win-win solutions to Political Risk challenges
WHO SHOULD ATTEND?
This training course is suitable to a wide range of professionals who are interested in learning about political risk management for the oil and gas sector:Â
- Country Managers
- Asset Managers
- Project Managers
- Operations Managers
- New Venture Managers
- Business Development Managers
- Finance and Tax Professionals
- Lawyers
- Risk Managers
- Government Relations Managers
- Political Risk Analysts
- Corporate Affairs Managers
- External Relations Managers
- Corporate Social Responsibility Managers
- Public Relations Professionals
Course Outline
DAY 1
Introduction to Political Risk
- What is political risk? Introduction and definitions
- Political risk and ethics
- Ethics and principles
- Transparency and accountability
- Human rights
- Managing relationships with political actors
- Codes of conduct, standards and guidelines
- Political risk: threats and opportunities
- Global trends and developments
- Geopolitics
- Climate change
- Technology
- Oil and gas industry outlook
- Creating opportunities out of Political Risk
DAY 2
Sources of Political Risk
- Sources of Political Risk
- Government policy
- Conflict
- Political change and transition
- Social divides
- Ethnic and minority groups
- Populism
- Economic factors
- Black Swan events
- Sources of information and analysis
- Government
- Political actors
- Media and publications
- Academics
- Civil society
- Consultancies
- Human sources
DAY 3
Assessing Political Risk
- Assessment strategies and tools
- Making connections
- Working with incomplete information
- The 360 degree view
- Use of experts
- Introducing scenarios
- Red flags and showstoppers
- Identifying red flags
- Assessment
- Monitoring
- Capturing and communicating political risk
- Reports
- Risk matrices
- Metrics
- Presenting to leadership teams
DAY 4
Managing Political Risk
- Political risk management strategies
- What can you control, influence or ignore?
- Choosing the right approach
- Monitoring and feedback
- Building political capital
- Front end loading of goodwill
- Alignment with national priorities
- Proactive engagement
- Proactive management of political risk
- Early warning of policy changes
- Consultation and engagement
- Proactive and collaborative approaches
- Measuring success
- Organisation
- Skills and expertise
- Team structure
- Embedded teams
- Engaging the leadership team
DAY 5
Building scenarios
- What is a scenario?
- Purpose of scenarios
- Defining the scope
- Prediction vs anticipation
- Brainstorming
- Setting out the scenarios
- Worst and best case
- The status quo
- Likelihood vs impact
- How many scenarios?
- Using scenarios
- Managing instability
- Contingency planning
- Identifying opportunities
- High impact, low probability events
- Conclusion
- Summary
- What does excellence look like?
- Final Q&A
Method of Instruction
Online
Course Duration:
5 days
Type of Certificate Issued:
On a successful completion of this training, Participants will be issued
Certificate in Managing Political Risk in the Oil & Gas Sector
Participants can choose to have their certificate in any of the three options below:
- Digital Certificate (Downloadable (PDF)
- Physical Certificate with security marking shipped to your location with a price
- Framed Certificate with security markings shipped to your location with a price.
REGISTRATION