How to Perform Quantitative Risk Assessment for Oil & Gas

The oil and gas industry is notoriously dangerous and presents a host of safety challenges. Of course, this industry can also be incredibly lucrative and firms within this particular sector can do very well. The key for many companies is to ensure that all possible risks are considered and planned for, as the financial consequences of any mistake or disaster can push even the most well-funded firm to the brink of or even into bankruptcy. Here are some of the important things to consider when performing a quantitative risk assessment:

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The 5 Best Books About Compliance Management You Need to Read

Compliance is a tricky facet of running a business well and maintaining a robust contract portfolio. Understanding the many nuances will take time, and although attaining proficiency in the subject is certainly feasible, developing true expertise will require diligent research on many topics, as well as consistent involvement in the process over a fairly significant period of time.To help professionals get up to speed on the ins and outs of compliance management and understand what it will take to create the right corporate culture that will facilitate the creation and maintenance of an effective compliance program, here is a list of some books on the matter that are worth reading.

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4 Things to Know About Compliance


For companies engaged in contracting, understanding compliance is critical to survival. High value contracts, in particular, will be subjected to very strict oversight and scrutiny. Obviously, failing to comply with contract terms could mean lost business for a company, but there may be legal consequences and hefty financial penalties as well. And, compliance is not always about an evaluation of an external party's actions, or lack thereof.

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Managing Contract Risk - Importance of A Contract Management Process

Contracts are at the heart of virtually all business transactions. However, because contractual relationships vary drastically within and between companies and sectors, not all contracts can be treated in the same manner. Managing contract risk is an important part of the contract management process. Doing so can ultimately help a company’s bottom line. And failing to do so can result in dire consequences, both financial and otherwise.

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