This will require standardization of their operations and risk management procedures as well.

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Shell contractors are required to take a systematic view of risk in drilling operations and to put management systems and mitigations plans in place before work begins.

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With more than 2, 900 professionals in over 40 cities around the globe, Oliver Wyman is the leading management consulting firm that combines deep industry knowledge with specialized expertise in strategy, operations, risk management, organizational transformation, and leadership development.

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That could encompass operational deficiencies from using spreadsheets for trading and risk management rather than migrating those operations to industrial strength platforms, like Imagine.

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Firms should also think about integrating risk considerations more widely into decisions regarding operations, capital management and management processes.

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Cargill, which is privately owned, has been doing business since 1986 in Venezuela, where its operations include oilseed processing, grain and oilseeds trading, animal feed, salt, and financial and risk management.

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Goldman Sachs (nyse: GS - news - people ), with its massive trading operations and exposure to most of the riskiest sectors in the business, is an example of how risk management has evolved.

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