In a time of local labour and supplier shortages, lack of cost and schedule control and misalignment between what’s being reported and what’s really happening in the field, more than 75% of large capital projects experience budget overruns. Because these large scale, long-term projects represent significant capital investments, delays or cost overruns can have huge business implications. PwC’s research shows that if mismanaged, capital projects lead to steady share-price declines, averaging 15% across all industries after only three months. Our global team of capital projects specialists apply leading practices and frameworks that can help you address challenges throughout your capital project and realize the outcomes you set out to achieve.
Our research indicates that 35% of capital projects fail due to inadequate planning and monitoring or a lack of clear objectives at the outset. We provide a full range of customizable project assessments ahead of critical decision-making stages to help keep your project on track. We rapidly identify issues and root causes on inflight projects and develop plans to course correct. We also make sure your contract strategy is solid and help you monitor vendor performance.
Organizations often struggle when preparing to get an unusually large capital project off the ground or are looking to improve operational efficiencies of a project already on the go. We can help address the challenge by establishing or improving upon your core processes and systems – be it a startup, point process improvement or a technology enhancement during project execution. We work with you to:
As an alternative to staffing up large in-house teams to provide oversight or insource activities from your EPC’s, we’ll help you see your project through to execution. Our global reach and cross functional teams are made up of project professionals so that you can draw on whatever experience you need, including:
In brief: Governance in the mining industry
Capital projects are integral to successful mine operations. They represent significant capital expenses, spanning multiple years, so its important to have short inteval controls that prevent delays and budget increases. All of this can be addressed by establishing a governance model so that key decision-makers are organized to execute, oversee and monitor risks ahead.