ABSTRACT
The PSA has launched a risk management project. The purpose is to stimulate a revitalization of the risk management in the Norwegian petroleum sector. The project is ongoing, which means that no conclusions, findings or reports are final yet. In this paper we describe the reasons for initiating this project. We also describe the process, and the preliminary focus areas of the project. Three messages to decision makers are given special attention. First, that risk management has to be an integral part of all organizational processes, and part of decision making. Second, uncertainty is a main component in the risk concept, leading to a strong focus on the need for robustness. Third, the management culture at all times absolutely has to be characterized by a sincere wish to reduce risk. Finally, we describe our intention to provide examples of practical risk management challenges, as well as some ideas for how these challenges can be handled.
