Risk Management for Power Capture in the Evaluate stage
Table of Contents
Objective
The objectives of this activity are:
- Risk evaluation for power plant and associated capture plant development. Preliminary development of risk mitigation options for high level project risks and associated quantification of impact
Major Deliverables
- Evaluation of potential impacts of risk in terms of quantification of cost and impact on general public
- Evaluation as required with key stakeholder groups and regulatory parties such as the HSE and Environmental Agency
- Preliminary evaluation of potential mitigation options going forwards for high level risks
- Evaluation of potential risk management strategy to be implemented at full FEED stage
Tasks
Specific tasks include the following:
- Evaluation of key objectives for the following (to be undertaken at FEED):
- HAZID study – To identify the hazards posed by the process and materials used within the process, and the effects on the external environment
- HAZOP study – To identify the likelihood of an incident occurring by failures, misuse or mal-operation of the process and to provide qualitative assessment of the risks
- HAZCON study – To identify hazards likely to be encountered during the construction phase of the project and ensure appropriate mitigation
- High level evaluation of FOAK risks posed by project selection including regulatory approval and securing initial capital investment
- Evaluation of key project related risks across all phases of project cycle development including potential cost impact
- Consider when defining the HAZID scope to assess major project risks relating to the following areas:
- Power plant development considering scale and technology selection
- Cross reference to site selection frame considering potential site locations and hazard register
- Development of commercial risk analysis with regards to capital funding/opex requirements
- Risk analysis for associated infrastructure for capture plant, compression and dehydration equipment
- Major regulatory compliance and environmental risks associated with project development
- Scoring of initial risk register matrix of various stages of the project cycle to be taken forward to the evaluation stage
- Ensure phase gate approach model to project to ensure appropriate risk mitigation and staged financial investment
Examples
- Guide on Project Risk Analysis and Management
- HSE Construction (Design and Management) regulations 2007
- International carbon capture and storage projects: overcoming legal barriers
- Carbon Capture and Storage Regulatory Test Toolkit
- http://www.co2captureproject.org/
Key Personnel
- Project Manager
- Health and Safety Manager
- Engineering Manager
- Key Engineering Sub-Contractors
- Commercial Manager
