Scholarly record

COST MANAGEMENT OF MINING PROJECT LIFE CYCLE

Oksana Marinina, Marina Nevskay

Abstract

The management features of mining project life cycle are connected with unregulated periods of coordination, confirmation, certification, a time gap between development stage and project implementation, specific features of mineral deposit technological processes (overburden removal, mining, mineral processing). The Scheduling method does not take into consideration volatile deviations. Thus the management method of project life cycle is corrected by technicians of changes management. As a result it leads to significant increase of the project budget. The objective of the research is to support the necessity and efficiency of applying cost management of project life cycle in the conditions of mining production. The methodology of the research is based on the analysis of management methods of project life cycles, graphic and system approach of cost factor justification for project life cycle management. It works on the basis of using Microsoft Project software product. The paper proves the optimality property and efficiency of the method of cost management of project life cycle for objective development and project implementation in the conditions of mining production. The offered approach allows to consider uncertainty and risks within project development and implementation at different stages of life cycle by unit time value estimation. The paper analyzes contradictions between criteria of planning efficiency of the project implementation schedule using the Critical path method and project value indicators of mineral processing efficiency of gold field. The results of the research can be used for decision-making at the project assessment stage and operational correction proceeding from an investor's possible restrictions and requirements

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