Risk Management at NASA and Its Applicability to the Oil and Gas Industry

Abstract: NASA has a world-class capability for quantitatively assessing the risk of highly-complex, isolated engineering structures operated in extremely hostile environments. In particular, the International Space Station (ISS) represents a reasonable risk analog for High Pressure, High Temperature drilling and production operations on deepwater rigs. Through a long-term U.S. Government Interagency Agreement, BSEE has partnered with NASA to modify NASA’s Probabilistic Risk Assessment (PRA) capabiliti…