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Godwin project - Talisman Energy

July - September 2011

We carried out a cost and schedule risk review on the Godwin project, for Talisman Energy in Aberdeen. The multi-disciplinary project involves drilling an extended-reach well and modifying Arbroath reception facilities to accept the new fluids. It will assist in extending the life of the existing Montrose-Arbroath infrastructure, while providing the opportunity to complete other scopes of work and enhancement projects that augment these intents.

The risk review supported approval for the project at the Define to Execute gate. We took the project team through:

  • identifying the cost and schedule risks to the Godwin project;
  • assessing the risks in terms of probability and impact;
  • identifying and capturing mitigation actions for the risks;
  • performing an integrated cost and schedule risk analysis to show the overall effect of the risks on the project.

The risk review gave the Godwin project team a demonstrable understanding of the schedule and cost risk to the project. They used it to justify contingency allocation, assure partners of risk-awareness, and to help focus management on key decisions that were important to the project. It was one of the required tools to achieve sanction for the project.

According to the project’s Senior Cost Engineer:

"We appreciated the capture of 'discrete risks', as well as traditional three-point estimates – for example a significant uncertainty was around the rig availability. The risk review captured challenge around when the rig would arrive, and the consequences of that: the rig moving, the sequencing of the work, and the logistics of using its Norwegian crew. It allowed the team to plan for this (and other risks).

"What stood out compared to other risk consultants we have used was the analytical piece – it helped prevent it being just a tick-box exercise. Giving the right information at the right time allowed the team and management to understand the nature of the work they are undertaking.

"It was also good because it followed Talisman guidelines – Simon adapted his approach to suit Talisman’s risk register format and scoring schemes. We also appreciated Simon’s facilitation skills to identify the key drivers, in workshops that included our commercial and operational partners – allowing us and them to express opinions without losing focus.

"The risk review helped us in getting to, and being comfortable with, the contingency: in understanding it, and in having better information to reduce or increase it. Contingency is held by the development manager, and this understanding helps him, and allowed decisions to be made between us and our partners, to progress and achieve sanction."