Produce an additional 0.5 Million Ounces of gold per year
History of cost and schedule overruns when delivering fast-track project solutions
An international gold mining company in accordance with its 3-year strategic business plan embarked on expanding its current operational production. They had experienced project overruns on previous projects and admitted that this venture required an improved structured methodology to deliver the outcome as articulated in the strategic business plan. It was at this point that our services were sought and implemented on this project. msi‘s services included:
- Appointed as the client advisory project management consultants to oversee the progress of design procurement and construction progress and cost associated expenditures.
- Preparation and of master planning schedules, cost management plans and coordination with procurement and construction management on all critical path major equipment and materials.
- Preparation of the project execution plan and monitoring and management of all contractor monthly subcontractor invoicing and reporting.
The capital project was completed without any recordable lost time incidents. The actual completion schedule was 3 weeks ahead of the planned date and the cost budget estimate for the project was achieved without expending project contingency.
The mine asset was successful in producing an additional contribution of 0.5 million ounces of gold for the operation as per the directive in the corporate strategic business plan.