As capital and mining projects become more complex and wider in scope, the need for benchmarking has become critical.
With the proper strategy, you can optimise historical cost and productivity rates and establish high, low and average benchmark data points for costs for any size project.
The path to better benchmarking involves understanding its importance, plus identifying the numbers to benchmark against.
A good plan also includes analysing the most valuable data sources and learning how best to collect and store them.
With the right benchmarking plan, you’ll gain more confidence in projects being completed for the budgeted cost.