Nexen – Risk and Opportunity Management System
Problem Statement
Consistent and process driven management of the risks and opportunities through a regular control framework is an essential element of production system optimisation and asset management.
Aims
To develop the governance framework and a supporting tool for the processing and management of the risks and opportunities with better consistency and visibility.
Method
The workflow is updated using the decision framing techniques with all stakeholders and players. Regular opportunity and risk reviews were incorporated into the asset management and review process following a weekly structure and decision governance through 4-stage gates.
A tool with a register, overview radar and dashboards was developed to support and facilitate the process, enabling the recording, processing and governance of the identified risks and opportunities. The system was enabled to feed into the installed production capacity reporting and the locked-in potential dashboards for better visibility to all.
The risks and opportunities are now updated regularly and governed with good controls providing visibility to the whole organisation.
The resource utilisation for improvement projects improved with better control, proper prioritisation and alignment with the company work plan and budgets.
All the information of the identified risks and opportunities and their maturity as well as their schedule are readily available to all stakeholders and users.
The impact and contribution of the processed or progressing mitigations/improvements became readily available and visible.
Total Savings Anticipated
>5% Time
Improved Production Efficiency
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