Significant research on risk management has focused on the development and assessment of risk management models. However, risk management has been often criticized as being inadequate and not achieving its main objectives of bringing greater certainty to projects by minimizing threats and...

Risk management practice continues to be well recognised and integrated as a key function of the project management process in most industry’s. Literature has established that it is rapidly becoming an indispensable approach adopted by the oil and gas sector for achieving strategic business...