Managing in Uncertainty: Lessons from the Underground

Abstract:Corporate results can only be improved in the face of uncertainty if the management process itself is defined, developed, and monitored carefully. In some industries, including the mining industry, high levels of uncertainty impact results. In such environments, traditional quality management concepts will fall short. Experiences in the underground mining industry indicate that Total Quality Management (TQM) approaches are inadequate because they do not address the uncertainties that arise. Alternatives to TQM include using the budget as a management tool. This can be accomplished by using activity based budgeting, treating all budgets as projects and manage them that way, budget and manage costs on a monthly basis according to total dollars expended on planned activities, and always managing according to the budget plan. The management process begins with the budget. After the yearly plan is in place, the management process can take a variety of …

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Excellent Article on Mining Continuous improvement.
Just Great!!!!!!!!!!
--Rajeev Chadha, 01-08-2013


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