This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Mining And Metals Companies Could Save Billions On Capital Projects, Accenture Research Finds

More than two-thirds of the survey respondents indicated that their portfolio of projects will grow larger, and 81 percent said their complexity will increase. When asked about their top priorities in optimizing capital project management in response to the expected growth in project size and complexity, the executives cited ensuring the availability of the right leaders and talent for project delivery (72 percent), improving front-end planning and scheduling (52 percent), improved readiness for start-up and a more effective transition from planning to operations (43 percent), and effective stakeholder engagement (39 percent).

Based on the research findings, analysis and Accenture’s experience working with mining and metals companies, Accenture has identified five key areas for improvement in project delivery:

  • Establish strong project governance and risk management capabilities. Multi-year capital projects have many variables, making strong governance and the ability to manage risks essential requirements.
  • Proactively manage stakeholders’ increasing expectations for sustainability. The already broad range of environmental issues, including biodiversity, is growing, and concern for sustainability is becoming a major barrier to moving forward with capital projects.
  • Optimize scarce talent through portfolio management, organizational flexibility, selective outsourcing and training. Since talent in a wide range of areas will be in high demand for many years to come, companies should find the best ways to leverage resources, develop a strategic talent plan to identify and train the next generation of workforces, and improve productivity and safety with more effective training, especially with new hires who have little or no mining and construction experience.
  • Integrate information systems among capital project players. The progress of a project cannot be accurately measured if proper data standards are not established at the outset and integration between the information systems of functional areas and service providers is not promoted throughout the project’s life cycle.
  • Accelerate operational readiness. A well-planned and managed handover process – from a completed project to operational readiness – can help companies avoid rework and delays and support high production levels from the initial operation of the mine or plant.

“While it is difficult to anticipate all of the changes that can arise from a multi-year project, companies can improve their project management delivery, reduce risks and boost returns on investment by looking beyond aspects of engineering and procurement. To be leading performers, companies will need to increase their focus on governance, human capital strategy, and integrating information systems with business suppliers and operations,” said Suarez.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs