Risk Management for Energy Professionals Program

Master uncertainty to optimize outcomes

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Course Dates

STARTS ON

August 8, 2024

Course Duration

DURATION

6 weeks, online
4-6 hours per week

Course Fee
Course Fee

For Your Team

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MANAGE RISK WITH CONFIDENCE

Success in today's energy sector hinges on the understanding of risk and opportunity, with data-driven management, analytics, and strategic planning becoming crucial skills for executives. Energy organizations must learn how to thrive in the face of an uncertain future, and energy leaders must rethink how to drive growth and manage risk.

The Risk Management for Energy Professionals Program from Texas Executive Education at the McCombs School of Business is designed by expert faculty with global, cross-industry experience in decision analysis and risk management. Through a combination of expert insights, application-based activities, case studies, and peer learning, the six-week curriculum empowers energy and sustainability professionals to make informed decisions, mitigate risk, and drive growth in an unpredictable environment.

WHAT YOU WILL LEARN

The Risk Management for Energy Professionals Program will provide you with the tools and frameworks for:

Strategic Decision-Making
Uncover sources of uncertainty and identify decision-making techniques that will help you determine whether an opportunity can be pursued without compromising quality, profits, and growth.

Qualitative Risk Analysis
Strengthen the validity of your decisions by learning qualitative approaches to assessing risk that account for nonquantifiable factors.

Quantitative Risk Analysis
Determine potential risks and develop more robust growth and mitigation strategies by leveraging analytical approaches that strengthen your decision-making.

Valuation
Assess the accuracy and value of your current sources to determine whether gathering additional data and/or information is required to make a sound decision.

Profile image of the program faculty, R Britt Freund

"The complex nature of the energy industry means that decisions carry high levels of risk, but being skilled in risk analysis gives leaders an advantage. The Risk Management for Energy Professionals Program takes inspiration from analytics and applies it to the decision-making process, equipping leaders with the tools needed to make impactful, real-world decisions that account for the uncertainty and risk associated with opportunities in the energy industry."

— R, Britt Freund, Faculty Director; Professor of Information, Risk, and Operations Management

PARTICIPANT PROFILE

The Risk Management for Energy Professionals Program is ideal for business leaders and sustainability professionals in the energy industry, including:

  • Energy leaders looking for a reliable set of frameworks to help them evaluate current trends, navigate high-risk decisions, and develop proactive risk management strategies that do not disrupt organizational growth
  • Mid-senior level managers who are interested in acquiring tools and techniques that will help them identify and manage global energy risks, conduct more effective scenario planning, and create risk mitigation plans
  • Project managers looking for tools to help them assess and create risk mitigation plans to meet timelines, budgets, and quality standards

CURRICULUM

This six-week program enables participants to gain hands-on experience in tackling risk and facilitating informed decision-making in the unpredictable energy sector. The curriculum, organized into weekly modules, offers flexibility in accessing study materials. Weekly activities encompass faculty sessions, assignments, and case studies, aiding participants in modeling, assessing, and mitigating risk.

Module 1:

Risk Taxonomies

Risk is an inherent part of decision-making, but understanding the level of uncertainty can help organizations choose the right framework for analyzing a decision. Learn how to evaluate investment decisions for risk factors and discover best practices for managing risk.

Module 2:

Modeling Uncertainty

Understanding risk and how to manage it can help organizations make more informed decisions. Learn how to conduct effective probability assessments that can be used for decision-making and risk management.

Module 3:

Decision Trees and the Value of Information

Now that you know the essentials of probability, how can you leverage it in the decision-making process? Learn how to conduct effective probability assessments that can be used for decision-making and risk management.

Module 4:

Assessing Probability

Biases can impact the quality of probability assessments, so how do you ensure their quality before entering the decision-making process? Discover how to remove bias from probability assessments and determine whether someone is good at assessing probability.

Module 5:

Mitigating Real-World Risk

Minimizing real-world risk requires leaders to examine the more nuanced aspects of an opportunity. Practice applying the decision-making framework to evaluate a risk you may encounter: investing in solar panels for your home.

Module 6:

Energy Decision Risk Case Study

Become proficient at identifying potential risks in a broad range of situations and evaluating the likelihood and impact of each risk. Then, immerse yourself in a case study and practice applying your knowledge of risk management to help power plants make informed decisions that mitigate risk.

Module 1:

Risk Taxonomies

Risk is an inherent part of decision-making, but understanding the level of uncertainty can help organizations choose the right framework for analyzing a decision. Learn how to evaluate investment decisions for risk factors and discover best practices for managing risk.

Module 4:

Assessing Probability

Biases can impact the quality of probability assessments, so how do you ensure their quality before entering the decision-making process? Discover how to remove bias from probability assessments and determine whether someone is good at assessing probability.

Module 2:

Modeling Uncertainty

Understanding risk and how to manage it can help organizations make more informed decisions. Learn how to conduct effective probability assessments that can be used for decision-making and risk management.

Module 5:

Mitigating Real-World Risk

Minimizing real-world risk requires leaders to examine the more nuanced aspects of an opportunity. Practice applying the decision-making framework to evaluate a risk you may encounter: investing in solar panels for your home.

Module 3:

Decision Trees and the Value of Information

Now that you know the essentials of probability, how can you leverage it in the decision-making process? Learn how to conduct effective probability assessments that can be used for decision-making and risk management.

Module 6:

Energy Decision Risk Case Study

Become proficient at identifying potential risks in a broad range of situations and evaluating the likelihood and impact of each risk. Then, immerse yourself in a case study and practice applying your knowledge of risk management to help power plants make informed decisions that mitigate risk.

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KEY PROGRAM FEATURES

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Expert Faculty

Gain in-depth insights from world-renowned faculty who are also expert practitioners with long-standing industry experience.

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Case Studies

Engage in case studies to practice applying your knowledge of risk management and make informed decisions that minimize risk.

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Peer Learning

Interact and share insights with like-minded business leaders in the energy industry from around the world.

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Application-Based Activities

Practice applying concepts such as probability trees and risk matrices to assess risk for your organization.

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Weekly Office Hours

Attend optional live weekly office hours with your course leader to ask questions about program material.

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Self-Paced Learning

Work at your own pace by accessing the week's sessions at your convenience.

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Minimal Weekly Commitment

Balance learning with your busy work schedule by dedicating just four to six hours each week to program sessions and learning activities.

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Certificate of Completion

Earn a certificate of completion from the University of Texas at Austin, McCombs School of Business, a leader in energy research and education.

MEET THE FACULTY

Profile image of the program faculty, R Britt Freund

R. BRITT FREUND

Faculty Director; Professor of Information, Risk, and Operations Management

R. Britt Freund has spent the bulk of his almost 30-year academic career focused on the energy industry. In addition to delivering graduate courses on project management, operations strategy, supply chain, and decision analysis around the world, Freund works extensively with organizations such as ExxonMobil, Royal Dutch Shell, Petrobras, Sinopec, CNPC, and Black & Veatch. His primary research, teaching, and consulting interests have been in the realm of project management, particularly the management of risk in large capital projects. His most recent work has focused on business risks living in the interface between commercial agreements and complex capital projects.

Profile image of the program faculty, J. Eric Bickel

J. Eric Bickel

Professor and Director of the Graduate Program in Operations Research and Industrial Engineering (Walker Department of Mechanical Engineering)

Eric Bickel’s research interests include the theory and practice of decision analysis. His work has addressed the modeling of probabilistic dependence, value of information, scoring rules, calibration, risk preference, decision education, decision making in sports, and climate engineering as a response to climate change. He has consulted around the world in a range of industries, including oil and gas, electricity generation/transmission/delivery, energy trading and marketing, commodity and specialty chemicals, life sciences, financial services, and metals and mining.

CERTIFICATE

CERTIFICATE

Upon successful completion of the program, participants will be awarded a certificate from The University of Texas at Austin, McCombs School of Business.

After successful completion of this program, your digital certificate will be emailed to you in the name you used when registering for the program. All certificate images are for illustrative purposes only and may be subject to change at the discretion of The University of Texas at Austin.

Note: This program does not grant academic credit or a degree from the McCombs School of Business.

Didn’t find what you were looking for? Write to us at learner.success@emeritus.org or Schedule a call with one of our Academic Advisors or call us at +1 361 344 4980 (US) / +44 13 8443 7887 (UK)

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