British Petroleum (Plc) and John Brown

Topics: Risk management, Risk, Risk assessment Pages: 4 (1069 words) Published: February 24, 2013
British Petroleum (PLC) and John Browne: A Culture of Risk Beyond Petroleum
British Petroleum (BP) reputation was put to the test in 2005 when a major explosion at one of the refineries in Texas exploded killing 15 people and injuring more than 180. Investigations returned a history of poorly regulated safety measures and facilities’ safety compromised in favor of profits, cost savings, and lack of supervised management. Two years later, Lord John Browne announces an early retirement before a successor is prepared to assume the position. The company new culture risk reduced shareholder’s confidence, risked lives and the firm’s reputation (Hunter, 2012). A workshop must be coordinated to identify and assess risks the company is facing. Risk Management Workshop Agenda

| Monday, February 11, 2013|
8:00-8:15am| General Housekeeping|
8:15-8:30| Introductions|
8:30-9:00| Project Objectives|
9:00-9:30| Scope of Risk Process|
9:30-9:45| Morning Break|
9:45-10:30| Ground Rules|
10:30-11:00 | Risk Management Briefing|
11:00-11:30 | Expectations and Results|
11:30-12:00| Identify Risks (Brainstorming Session)|
12:00-1:00| Lunch|
1:00-2:00| Rationalize Risks|
2:00-3:30| Risk Mentalanguage|
3:30-3:45| Afternoon Break|
3:45-5:00| Identified Risks Recording|

| Tuesday, February 12, 2013|
8:00-8:15 am| General Housekeeping|
8:15-9:00 | Assessment Scheme Recap|
9:00-10:00| Probability and Impact Assessment|
10:00-10:15 | Morning Break|
10:15-12:00| Risk Categorization|
12:00-1:00 pm| Lunch|
1:00-3:00 | Q&A|
3:00-3:30 | Close Workshop |
Day One of the workshop will begin with a few general housekeeping issues. It’s important to set the scene of the workshop’s expectations. The risk champion will begin the workshop by having all of the key stakeholders to introduce themselves and answer specific questions regarding their name, role, experience, expectations, fear of the...

Cited: Hillson, D., & Simon, P. (1995). Practical Project Risk Management: The Atom Methodology. Vienna: Management Concepts, Inc.
Hunter, T. (2012). British Petroleum (PLC) and John Browne: A Culture of Risk Beyond Petroleum. In BUS 519 Project Risk Management (pp. 13-25). Virginia Beach: XanEdu Publishing, Inc.
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