Risk Management

Terje Aven is Professor of Risk Analysis and Management at University of Stavanger, Norway. He is also a Principal Researcher at Rogaland Research, Norway. His professional career includes experience in the petroleum industry (Statoil) in addition to his time in research and education. His research interests include decision support tools, risk management, risk acceptance, reliability and risk analysis methods, and risk assessments reflecting human and organizational factors. He is a member of the Norwegian Academy of Technological Sciences. He has been awarded several prizes for his research and teaching activities. Jan Erik Vinnem is Professor II of Risk Analysis at University of Stavanger, Norway. He is also a specialist advisor and CEO of Preventor AS, a consultancy to the Norwegian offshore industry. His professional career includes experience in the petroleum industry (Statoil and Total), and work as a private consultant (as the founder of Safetec Nordic AS and Preventor AS), in addition to his time in research and education. His research interests include decision support tools, risk management, risk acceptance, risk analysis methods, and risk assessments reflecting human and organizational factors.

From the reviews: "This book is about making decisions in the face of risks and uncertainties and they outline the challenges that go with this process of decision making. ... has come around successfully in presenting its theme, theories and applications of risk management, more so to an off-shore gas and oil industry and would like to recommend to all risk analysts and managers. ... would also be found useful by the students and teachers at universities in pursuing or teaching a risk management course." (Krishna B. Misra, International Journal of Performability Engineering, Vol. 4 (3), 2008) "'Risk Management: with Applications from the offshore Petroleum Industry' ... is about how the offshore oil and gas sector should assess, manage and tackle risk of an offshore installation's complete life cycle from predesign to final decommissioning and disposal in the world's tempestuous seas. ... For the industry's practitioners, it provides a ready-made decision making framework in which to tackle decision making in high risk environments ... . This book should prove essential reading for the industry's decision makers ... ." (Nicholas Newman, Oxford Prospect, September, 2010)

• Risk Management Principles and Methods — Review and Discussion.- A Risk Management Framework for Decision Support under Uncertainty.- Applications — Concept Optimisation.- Applications — Operations Phase.- Applications — Choice of Disposal Alternative.- Applications — Risk Indicators, National Level.- The Success Factors — Discussion.