Geomechanical risk and hazard assessment and mitigation

A system for geomechanical risk and hazard assessment and mitigation, the system comprising:

• a memory comprising computer readable instructions;
• and
• a processor for executing the computer readable instructions for performing a method, the method comprising:
• performing a risk assessment to identify at least one risk associated with drilling a borehole;
• updating, by the processor, a geomechanical model as a pre-drill geomechanical model by applying a mitigation solution to mitigate the at least one risk associated with drilling the borehole;
• generating, by the processor, a drilling plan for drilling the borehole based on the pre-drill geomechanical model;
• drilling the borehole based on the drilling plan;
• and
• altering the drilling the borehole based on monitoring the drilling the borehole to collect borehole data during the drilling,
• wherein performing the risk assessment further comprises:
• associating with the at least one risk an initial probability of occurrence of the risk prior to applying the mitigation solution;
• associating with the at least one risk an initial impact of occurrence of the risk prior to applying the mitigation solution;
• determining an initial risk grade for the at least one risk based on the initial probability of occurrence of the risk and the initial impact of occurrence of the risk prior to applying the mitigation solution;
• associating with the at least one risk a final probability of occurrence of the risk based on applying the mitigation solution subsequent to applying the mitigation solution;
• associating with the at least one risk a final impact of occurrence of the risk subsequent to applying the mitigation solution;
• and
• determining a final risk grade for the at least one risk based on the final probability of occurrence of the risk and the final impact of occurrence of the risk subsequent to applying the mitigation solution.