Shaft Sinking Scheduling/Planning - Introduction (545beb62-d4f4-42b2-aefa-514c1419aba6)

Mining companies are challenged with increased difficulty in delivering capital projects on schedule and within budget. In 2005, PricewaterhouseCoopers global review of major capital projects in the mining industry only 2.5% of projects could be defined as successful when assessed across the four critical dimensions of scope, cost, schedule and business benefits. Thus 97.5% of major mining capital projects were not successful according to the criteria PricewaterhouseCoopers used. Normally if a project fails on all these criteria it indicates scope creep. Scope creep refers to the change in a project's scope after the project work has started. As a result, the projects drift away from their original design, timeline, and budget, and as a consequence destroy business benefits. The major reasons for scope creep are poor change control and the lack of proper front end loading. Change control and front end loading are based on project processes in the planning and monitoring & control process group of the Project Management Body of Knowledge1 (PMBOK). This paper will focus on key factors to consider during project scheduling/planning with special reference to cost and schedule (using Microsoft Project as a tool although the principal is universal)