Operational Risk for Engineers

by trueventus

Learn how to proactively assess and manage operational risks for engineering projects and businesses.
Optimise risk identification, enable meaningful risk analysis, and confidently prioritise your key mitigating actions.

15 - 16 January 2013 | Kuala Lumpur, Malaysia

INDUSTRY OVERVIEW

Organisations face a diverse range of operational risks that threaten the survival
and future success of their businesses. The specific challenges associated with the
operational risks facing Engineers are enormous. Having to work to ever harder to
balance and manage the conflicting pressures of delivering increasing performance, at lower cost and in short time require innovative engineering solution. And
this is all accompanied by growing uncertainties and increasing risk. Engineering
projects and operations are now more complex with the advances in technology,
and have greater interdependency between specialists to meet the demanding
requirements of the todays competitive markets. For Engineers therefore, the need
for a clear understanding of operational risks, how these can be categorised,
captured, analysed and then managed has never been greater.
Recent crises and accidents around the world, such as the Challenger disaster in
1986, and Fukishima in 2011 have shown that operational failures by Engineers can
have dramatic and tragic consequential. Not all engineering failures make the
headlines but many do critically affect the performance of private business as well
as state organisations, such as utility service providers. Professionally Engineers and
their organisations have crucial responsibilities to get things right, to anticipate the
unexpected and to build in cost effective resilience into their activities. This requires
careful consideration - from the design concept right through the manufacture and
construction process, into operations and maintenance and eventually to a
projects ultimate decommissioning. Engineering is affected by operational risks
across the entire lifecycle.

WHY YOU CANNOT MISS THE EVENT

With quantitative skills and an understanding of managing complex, multidisciplinary projects Engineers can be uniquely placed in many organisations to
address and deal with operational risk. Engineering projects and activities often
involve managing complex systems with multiple stakeholders. This require both
the spatial awareness and numerical competency found in many engineers, but
also communication skills and behavioural understanding necessary to effect
tangible action. This course builds from robust engineering foundations to
provide delegates with operational risk management tolls that are fit-forpurpose in the dynamic 21st century.

KEY BENEFITS OF ATTENDING

This course will provide Engineers with the decision making frameworks to
manage operational risks that will enable;

Adverse i.e. what are normally considered risks to be able to be assessed alongside
more favourable but still uncertain positive outcomes.
The objective assessment of uncertainty to future costs, schedule, operational and
or environmental performance, safety and other key metrics, that minimise the
impact of harmful subjective judgements
Evaluating and comparing strategies to improve these operational risk management
and business performance.
Book and pay by 30 November 2012, USD 1695 per delegate , save USD 500

TESTIMONIALS

I enjoyed working with David immensely. His knowledge, experience and

professional approach gave me a rich opportunity to learn.
Daniel Brown, Quantitative Analyst, Drax Power Ltd
David performed an excellent role as Chairman of ICE's international technical
journal ICE Proceedings. During this period the journal grew significantly in
stature, much down to David's drive and enthusiasm.
Ben Ramster, Journals Editorial Manager, ICE Group (Institution of Civil
Engineers)
David has an immense knowledge in both risk management and the energy
trading market. He is also a really nice guy to work with, always optimisitc but
hard working and very sophisticated in his dealings with stakeholders. It was a
pleasure to work with him.
Nick Fisk, Interim Finance Director, Yorkshire Electricity, managed
David at RWE npower
David was an active participant in our distance learning MBA course. He
brought new ideas to the table and was also interested to debate topics, trends,
and challenges for UK businesses across sectors and geographies. I found his
input to my studies and learning valuable and stimulating. We have had
ongoing discussions since, around shared interests such as the UK energy
generation sector.
John Duncan, Engineering Manager, Volvo Aero Corporation, studied
with David at University of Bradford

PRE COURSE QUESTIONNAIRE

In order to clarify your learning objectives and ensure you get the most
out of this training, you will need to complete a Pre-Course Questionnaire stating your knowledge of the subject, level of experience and
other relevant issues. The course leader will analyse your form to ensure
that the course covers your needs accordingly.

PROGRAMME SCHEDULE
0830
0900
1030
1300
1400
1530
1730

Registration and coffee

Morning session begins
Morning networking break
Networking luncheon
Afternoon session begins
Afternoon networking break
Course concludes

TRUEOFFER!
Book and pay by 30 November 2012- USD 1695,
save USD 500 per delegate
From 1 December 2012- USD 2195 per delegate
*Strictly limited to 25 delegates per session!

Register Now
T: +603 2781 1501
F: +603 2781 1505
E: johnk@trueventus.com

DAY 1 & DAY 2

Session One: Introduction & background
Personal Learning Goals
Pre-course material review

Session Two: Engineering and Capital Projects

Nature of risks in Engineering
Approaches to managing risk
Framework for Managing Engineering Risk

Session Three: Understanding and defining Objectives

and Risk Appetite

Risk and Objectives

Examples and Group Exercise
Understanding how Projects and Business risks compare and relate
Defining and managing risks when objectives change

Session Four: Inter dependency and correlation in

Engineering Systems

Additive and subtractive correlations

Total costs of ownership and risk

Session Five: Categories and attributes of Operational

risks

Systems and Process

Health and Safety
Environmental
Fraud and Reputation
Strategic risk
External Event risk

Session Six: Cost and Schedule risk assessment and risk

management for engineering projects

Probabilistic risk-based integrated costs and schedule estimation

Cash flow analysis
Simulation modelling with dynamic probabilistic tools
Reliability analysis
Portfolio analysis

Session Seven: Modelling

Drivers for measuring operational risks
Group exercise - worked example
Quantifying Operational risks
Case Study
Modelling techniques; stochastic tools, real options

Session Eight: Failure Mode and Effect Analysis and other

forms of analysis

Case Study
System
Design
Process

Session Nine: Risk Mitigation

Classic mitigation steps
Reducing impact
Transfer - Insurance and Contracts
Case Study - regulatory compliance, a warning from History
Reducing Likelihood
Risk retention - Can you live with the risk

Session Ten: Facilitating a risk-based decision making

framework

Decision Analysis
Risk Analysis/Assessment and risk prioritisation
Risk management

Session Eleven: Reporting and Communicating Engineering Risks

What is too much and what is too little information

Identifying and managing operational risk themes
Timing frequency and ad-hoc reporting
Just Enough Essential Information

Book and pay by 30 November 2012, USD 1695 per delegate , save USD 500

Session Twelve: Human Behaviour

Are Engineers Human
Decision Making
Worked Example - a group exercise
A behavioural approach to risk identification

Session Thirteen: Conclusions

Lessons from the course
Operational Risk Framework review
Learning points to take - away
Why follow up is important

ABOUT YOUR COURSE LEADER

David Hirst is the Founder and CEO of independent risk
consultancy Ainsty Risk Consulting Ltd based in United
Kingdom. He is a professional qualified Engineer and a
Risk Management Expert working with blue chip clients
across the European Union and Globally. As a Fellow of
the Institution of Civil Engineers - one of the pre-eminent
global professional engineering bodies, David plays an
important role embracing all aspects of the modern Engineer. David represents
the UK on World Federation of Engineering Organisations Energy Standing
Committee, was the founding Editorial chair of the learned societies "Energy
Journal, a member of its Enterprise Risk Management & Project Risk Management steering groups, as well as being part of the British Standards Institute
Risk Management Committee.
David has over fifteen years experience of managing operational risks in senior
industry risk management roles. These roles have been in a major integrated
utility, an independent power producer, and with one of the big 4 global
consultancies. Responsibilities included the independent appraisal of the risks
associated with some of the largest - multiple billion dollar, private capital
investments in engineering projects.
A professional Engineer & Risk Manager, David has significant energy sector
that includes building power stations during the UK's "dash-for-gas" in the
1990's, and designing and building combined heat and power plants on
industrial chemical process sites. He is the founder and Managing Director of
specialist risk management consultancy Ainsty Risk Consultancy Ltd. He has a
first degree in Civil and Structural Engineering from the University of Sheffield
and an MBA in Engineering Management from the University of Bradford.

WHO SHOULD ATTEND

Chief Risk Officers

Heads of Audit
Risk Managers
Risk Engineers
Development Directors
Operational Directors
Operational Managers
Project Directors
Project Managers
Project Engineers

From industries:
Design, Construction/Manufacturing and Production, Development and
Infrastructure, Engineering Services, Oil and Gas, Chemical and
Petrochemical, Power and Utilities, Process Industries, Mining and Heavy
Industries, Transport, Water Resources, Waste Management

Operational Risk for Engineers

15 - 16 January 2013 | Kuala Lumpur, Malaysia - EN49

by trueventus

COMPANY DETAILS
Industry

REGISTER NOW

Postcode

Country

Tel

Fax

John Karras
T: +603 2781 1501
F: +603 2781 1505
E: johnk@trueventus.com

Name
Address

ATTENDEE DETAILS
1

Name

Job Title

Tel

Email

Name

Job Title

Tel

Email

Name

Job Title

Tel

Email

Name

Job Title

Tel

Email

Name

Job Title

Tel

Email

EXHIBITION OPPORTUNITIES
Limited packages are available. For
further details, contact Aravind Menon
+603 2781 1500
aravindm@trueventus.com

TERMS & CONDITIONS

1. The course fee is inclusive of the event proceedings,
materials, refreshment and lunch.
2. Upon receipt of the complete registration form, invoice will be
issue. Trueventus request that all payments be made within
5 working days of the invoice being issued. Full payment
must be received prior to the event. Only delegates that have
made full payment will be admitted to event.

APPROVAL
NB: Signatory must be authorised on behalf of contracting organisation.
Name

3. Substitution & cancellations policy. Should the registered

delegate is unable to attend, a substitute delegate is welcome
at no extra charge. Written notifications of all substitutions is
required 5 working days prior to the event. Trueventus
contracts carry 100% full liability upon receipt of registration.
Non payment does not constitute cancellation. A 100% of
cancellation fee will be charged under the terms outlined
below: Due to limited event seats, Trueventus agrees to
reserve the seat for the client upon issuance of invoice. Upon
signing of this contract, client agrees that in case of dispute
or cancellation of this contract Trueventus will not be able to
mitigate its losses for any less than 50% of the total contract
value. If a client does not attend the event without written
notification at least 5 working days prior to the event date,
he/she will deemed as no show. Trueventus does not provide
refunds for cancellations. When any cancellations are
notified in writing to Trueventus 5 working days prior to the
event, a credit voucher will be issued for use in future
Trueventus events.

Job Title

Email
Tel

Fax

Authorising Signature

COURSE FEES
Book and pay by 30 November 2012, USD1695 per delegate, save USD500
From 1 December 2012 USD2195 per delegate

Kuala Lumpur
Documentation Package USD 495
All options inclusive of course papers, luncheon, refreshments and service charge.

PAYMENT DETAILS
Payment is due in 5 working days. By Signing and returning this form, you are accepting our terms and conditions.
Please debit my:
Card Number
CVC/CVV2

VISA MasterCard

This three-digit CVC/CVV2 number is printed on the signature panel on the back of the card
immediately after the cards account number.

Card Issuing Bank:

Card Issuing Country:

Cardholders Name

Expiry Date

Cardholders Signature

Cardholder Email:

4. Trueventus will at all times seek to ensure that all efforts are
made to adhere to meet the advertised package, however
we reserve the right to postpone, cancel or move a venue
without penalty or refunds. Trueventus is not liable for any
losses or damages as a result of substitution, alteration,
postponement or cancellation of speakers and / or topics and
/ or venue and / or the event dates. If force majuere were to
occur Trueventus accepts no responsibility or liability for any
loss or damage caused by events beyond their control,
including, but not restricted to strikes, war, civil unrest, flight
delays, fire flood, or any adverse weather conditions.
5. Upon receiving this signed booking form, you the client herby
consent to Trueventus to keep your details for the use of
future marketing activities carried out by Trueventus and
third party organisations & partners.
6. Copyright and Intellectual Property. Any redistribution or
reproduction of part or all of the contents in any form in
connection to this event is prohibited without prior written
consent by Trueventus.
7. Client hereby agrees that he/she exclusively authorizes
Trueventus charged the credit card with detials listed above
for the amount provided herein; this registration form serves
as a contract that is valid, binding and enforceable. He/she at
any time will have no basis to claim that the payments
required under this Contract are unauthorized, improper,
disputed or in any way.
8. Please note that payment with credit card will be done via
trueventus online credit card merchant mobile88 which will
appear in the cardholder's statement. All credit card
transaction will be charged in MYR.