Pre-FEED risk assessment and analysis – Optimus Services Ltd

November – December 2012

We supported OSL’s work in carrying out a pre-FEED study for a Carbon Capture and Storage project for their client, Premier Oil.

We carried out a risk review, with input from OSL and representatives from Premier Oil, in order to establish the significant risks to the schedule and cost of the project. We used the risk assessments captured to produce an integrated cost and schedule model, which gave a credible "risked" schedule and cost estimate to support the pre-FEED study.

The process provided a forum for the project team to express, discuss and agree on a reasonable view of the risks to the project, and how they would be managed.

The risk analysis also provided the project team with a clear justification of the contingency that they were recommending be allowed for the project.

OSL's Managing Director Alastair Robertson says that he "appreciated the structured way in which the session brought out the risks from all of the team to produce a project risk register. This proved valuable when the study deliverables were presented to the rest of the partners.

"The risking exercise was used to establish a realistic and logical schedule which made the client think about the way the project would be executed.

"Simon gave a very good insight into risk assessment and was able to guide the team in a short but focussed session to provide the project team with an understanding of the major risks to the project."