Using the ISO 31000 International Standard for Risk Management, develop an outline of risks and potential actions to be taken associated with deep water drilling by BP or natural gas extraction by Southern California Gas Company to mitigate the risks for either project. Background information is contained in the BP press releases and other articles. More specifically:
Report format: total of 2 pages, single space (one page for shortcomings and one page for improvements)
Report content: Analysis of BP or So Cal Gas shortcomings (specify and back up with references), suggest improvements. Both shortcomings and improvements should be based on the ISO 31000. In specific, please analyze shortcomings in “Mandate and Commitment (4.2)”, Selection of Risk Treatment Options (5.5.2)” and one more section of your choice. Be as specific as possible in your analysis.
Shortcomings (1 page): Why was the issue in question a shortcoming? How did the company’s risk management plan comply (or not comply) with ISO 31000? When was it identified? Is it being fixed? How does their risk management plan comply with ISO 31000?
If not, where can it?
Improvements (1 page): What specific steps/processes/frameworks do you recommend BP or So Cal Gas place to avoid future spills and disasters specifically relating to deep water oil drilling or gas storage leaks?
