Value Creation Through Effective Project Management

Brack, William S.
Organization: Society for Mining, Metallurgy & Exploration
Pages: 8
Publication Date: Jan 1, 2004
The mining industry is very capital intensive. Competition for shareholder investment has never been greater. Among our challenges is the need to meet shareholder expectations (return on investment), and one area of focus lies in our ability to deliver value on our capital investments. Our ability to meet project expectations affects not only the economics associated with the immediate project but also directly influences our ability to finance future projects. Moreover, our ability as individual companies to attract investor capital is influenced by how we have done overall as an industry, and our industry track record has not been that stellar. With safety, scope, cost, schedule, and quality as guiding principles, our project managers today must address high expectations on every project. This paper examines some items that should be on today's project management checklist. PROJECT ENGINEERING Herbert Hoover, himself a mining engineer, said Engineering is a great profession. There is the fascination of watching a figment of the imagination emerge through the aid of science to a plan on paper. Then it moves to realization in stone or metal or energy. Then it brings jobs and homes to men. Then it elevates the standards of living and adds to the comforts of life. That is the engineer's high privilege.
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