Methodology of risk-optimizing planning development for the innovative project in the oil and gas sector

Methodology for innovative projects planning in the Oil and Gas sector based on implementation of complex risk analysis and network graph optimization is proposed in the article. There are several components of complex risk analysis: development of structure for potential risk events; qualitative and quantitative assessment of identified risks; development of mitigation plan. In contrast to PERT method, the network graph include not only time and cost of works accomplishment, but also risk-factor defined by building risk matrixes. The model of the network graph is non-linear optimization based on criteria of time, cost and risk minimization for project. Applying proposed methodology allows to significantly improve project parameters and increase probability of project realization, which was confirmed by algorithm approbation on the project of technological innovation development for oil and gas production

Keywords: the Oil and Gas sector, an innovative project, risk management, an integral risk analysis, risk-matrix, the network model, the project network schedule, optimization


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