Primary Author: Mr. Frederick P. Biery and Ms. Maggie Stewart
Audience Focus: Intermediate
Application Type: Research
Venue: 2014 AACE International Annual Meeting, New Orleans, LA, USA
Abstract: Project performance in the mining and minerals processing sector has lagged other industry sectors in key performance indicators (KPIs), such as meeting cost and production objectives. With costs spiraling, project managers and estimators are being asked to explain why costs are higher than those of recent years, and why their projects cannot be built more competitively. This paper discusses normalization methodology, which allows projects to be compared across time and location for comparison of project outcomes. It also presents findings about key drivers of performance—level of definition and project team development—that tend to be poor in minerals projects, and points out how industry benchmarking can serve as a vital part of improving project performance for minerals companies.
Audience Focus: Intermediate
Application Type: Research
Venue: 2014 AACE International Annual Meeting, New Orleans, LA, USA
Abstract: Project performance in the mining and minerals processing sector has lagged other industry sectors in key performance indicators (KPIs), such as meeting cost and production objectives. With costs spiraling, project managers and estimators are being asked to explain why costs are higher than those of recent years, and why their projects cannot be built more competitively. This paper discusses normalization methodology, which allows projects to be compared across time and location for comparison of project outcomes. It also presents findings about key drivers of performance—level of definition and project team development—that tend to be poor in minerals projects, and points out how industry benchmarking can serve as a vital part of improving project performance for minerals companies.