The art of decision making is pivotal to effective mining project management. During every stage of the project lifecycle, project managers face a huge array of choices. Furthermore, elements of decision analysis such as analysis of potential alternatives and assessment of project risk are critical during each stage of the project lifecycle.
Currently, there are no standard procedures that would sufficiently cover all the multiple-criteria requirements along with a breakdown into the preliminary and main assessment. However, at Tacmin the entire foundation required was created, such as definitions of requirements to an assessment method, selection and accurate description of the various assessment criteria and classification of the target system for typical mining project decision-making problems.
Based on the aforesaid studies, cost-utility analysis and the analytical-hierarchy process carried out on every mining assignment by Tacmin since 1996, were selected from a multiple attribute decision-making procedures and examined in detail. Merging these methods or connecting them with single-criteria decision-making methods (like the net present value method) may turn out to be reasonable and constitute an appropriate assessment.