Value Driven Resource Allocation And Focus In The Early Stages Of Project Development

The mining industry is facing a serious skills resource shortage, growing commodity demand and cyclical prices. This makes focus and allocation of resources in the early stages of project development very important. To assist with these six key elements in the project prioritization process is proposed, namely: 1) Define the project vision, objectives and business case, 2) Determine the potential show stoppers, 3) Determine the key value drivers, 4) Track changes and provide regular feedback, 5) Evaluate the alternatives and, 6) Ensure proper gate management governance at the decision point. Incorporating these elements in the project development process will assist in resource allocation and focus on the high value aspects of projects and alternatives during the early stages of the project development lifecycle. Keywords: Resource allocation and focus, vision, show stoppers, value drivers, project prioritization, linear programming, business case modelling, management decision.