Risk Management Framework in Oil Field Development Project by Enclosing Fishbone Analysis

Abstract

Fishbone analysis process is a conceptual stage in engineering role and product design. It’s a systematic method to analysis a failure system that were longer used in electronic industry application but not limit to use in oil and gas industry. In risk management concept that a failure as a risk shall prevent and identify in beginning process that may require to minimize them to happen in product and application in oil field equipment. The main interest of this paper is to propose for the potential of fishbone model can be insert and enclose onto risk management system and then implement in oil field development project in oil and gas industry. This paper is provided base on research and experiences into risk management and learned from practical team and their opinion in industry which matched by an application in oil field development equipment such as actuators, valves and Christmas tree that follow to industry standard such as API 6A guidelines. A frame work of implementation phase for risk management fishbone in oil field development project in industry were reviewed and added value by improving an effective communication and skills of the project and engineering team to the stakeholder and organization. The frame work that added a Fishbone analysis method in engineering role may become a standard model and may work as reference for academic and practitioners to help evaluate which risk management need to emphasize in order to maximize the organization in industry outcome from each stage of model. The frame work model may also use for reference of develop the oil field development project with simply process and can be develop with same concept for the next wide development project in industry.