This paper focuses on portfolio management for a group of sustaining projects performed by a Brazilian mining company. Such a group of projects can be understood as the investment dedicated to support and maintain current operation, covering renovation projects to the opening of new mining areas. The portfolio examined is composed of more than 40 projects and reaches an annual capital expenditure of about US$100 million. An overview of the mining process is presented, highlighting the strategic importance that project controls have in supporting the business. How projects are pulled together during the annual budgeting cycle is discussed, with particular attention to early resource consolidation. The tools used to develop the baselines and techniques adopted for forecasting are shown. The paper presents the project portfolio management framework, along with the KPIs for physical and financial control. Finally, an integrated financial portfolio forecast is performed using Monte-Carlo Simulation (MCS). The conclusion highlights the key findings discussed in the paper, including the benefits achieved by the company through the adoption of the portfolio management framework. In addition, reminders of the current limitations are presented, along with a set of recommendations for future improvements.
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