Multi Criteria Decision Model for Mining Projects
Keywords:
Profitability Index (PI), Return On Investment (ROI), Discounted Cash Flow (DCF), PERT, CPM, Activity packages, Break Even Point (BEP), Java Program coding, Program Models.Abstract
“Multi Criteria Decision Model for Mining Projects” is essential for sustainability from both academic and practical standpoint. Model Solution is the fifth phase of the Operation Research process and plethora of methods for analyzing operations has been used. By analyzing data, creating mathematical models and computing most cost benefit of mine operations with programming helped decision making of multi-projects. Based on field investigations, project construction scheduling with PERT, CPM and monitoring helped control of work force allocation and resources to projects. Reorganized projects from existing mines have to be successful by Break Even Point (BEP) Monitoring. Formidable problem is standardization, because of differing mining methods and operations, depending on the type of reserve. The author has developed about 14 computerized data-based models on field investigations in a coal company. Methods are found fruitful for operation planning, scheduling and monitoring for the company, which is making profit now. This paper has attempted to find innovative Project Management solutions for continued viability in mining industry with model programs.
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