Case studies

Paul Foy has personally delivered many assignments since VP’s conception in July 2011. What follows is a summary of specific assignments which aim to demonstrate the diversity of VP’s work.

Eon: Huntington Project
Working with the Eon Project Manager and project planners between September 2011 and March 2013, created the project schedule risk model using up-to-date progress data, the project risk register and uncertainty data gleaned from project personnel. The schedule model was updated at various stages to reflect project status. Sensitivity analysis was applied and, leading up to the commissioning stage, a P50 model produced for comparison with the deterministic plan.

In addition to Aberdeen based work, this assignment required some time at Eon’s London office interviewing key project personnel and visits to Norway for creation of a schedule risk model of Sevan’s remaining works to sail-out. Early in the project a basic uncertainty model was produced from the detailed cost estimate. A risk register was produced specifically for handover to operations and various workshops facilitated during the duration of this assignment.

Talisman: Subsea Infrastructure Budget Cost Analysis. April 2015
Delivering directly to the Manager of Subsea Infrastructure, a cost risk model was created using the deterministic budget estimate as a starting point. This assignment required a workshop attended by key client personnel to gather data for the model.

Throughout the workshop the workings of the model and process were fully explained. Factors for the model included type of vessel required, uncertainty regarding duration of hire for each vessel, 2016 inspection and maintenance requirements, possible break-in work (well integrity, failure of subsea equipment etc.) and additional requirements from government bodies.

After firstly checking the base budget for validity, uncertainty was applied to durations & day rates, weather restrictions were applied based on significant wave heights and, where appropriate, cost effects of discrete risks added to the model. Upon completion of this assignment, a fully detailed report was issued to the client.

Centrica: Creation of Corporate Risk Management Procedure
VP created a 42 page Risk Management Procedure on behalf of Centrica for use in Centrica Energy Upstream Capital Projects Worldwide.

Based on the APM Book of Knowledge (2nd Edition) the document defined qualitative and quantitative risk management and detailed the degree to which risk management should be applied at each of the project phases as described in the corporate stage gate system.

It detailed requirements for risk workshops, the risk matrix and risk register, workings of a risk breakdown structure, monitoring and control during the duration of a project and lessons learned.