Project Management and Simulation Analysis in the Mining Industry: Theory and Practice

The resource industry has been one of the most interesting and important topics in the business and research fields in the 20th century. The steel production has been growing rapidly because of the vast industrialization of China. However, up to date, the mining industry has not performed well in its ability to deliver projects on time and within budget. In the current market situation, an effective project management (PM) methodology is becoming a necessity of managers in the mining industry. The book consists of four main studies. The first part elucidates mining project development and the phases, in theory. The second part is concerning a study associated to mining project risks. The third part describes the benefits of using the Six Sigma technique for a project in the Mining Industry, in practice. The final part focuses on the usage of a simulation analysis method for managing risks associated with development of mining improvement projects, in practice. Overall, the book suggests ways for advancing the PM methodology by using qualitative techniques such as Simulation Analysis and demonstrates it both in theory and practice.