Global

Details

  • Service: Advisory
  • Industry: Mining
  • Type: Business and industry issue
  • Date: 4/2/2012

Construction Risk Management for the Mining Industry 

Investment in capital construction and capital improvements ranks among the top annual expenditures for most organizations
Construction Risk Management
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Mining projects are unique. They often go beyond the construction of a single building and include the development of a larger facility that includes mobile equipment and fixed processing locations. They require detailed planning and decisions that affect the operations of the mine through its existence. Considerations for the various aspects of environmental obligations, permanent and mobile equipment planning, and the operation of a safe work site during construction and throughout the mine’s life all contribute to the complexity of major capital projects at mine sites.


As a result, capital construction projects receive particular scrutiny from internal and external auditors, regulators, independent boards, oversight committees and other stakeholders.


This KPMG paper examines this issue and shows that a systematic approach to construction risk management has been effective in minimizing the possibility of a major project “surprise” while providing a set of effective tools to monitor and understand the day-to-day ebb and flow of the project.

 

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