To attract investment, it has become a necessity for organisations to complete projects under budget and well ahead of schedule. Unfortunately, with the overwhelming need to secure funding, many organisations make promises or assurances that they simply cannot deliver. Shareholder expectations guide the output of any business, moving budget and schedule predictions to create a buffer. This just doesn’t whet the lips of any investor in the current market.
One fatal blow is the managing the expectations of stakeholders. Expectations are funny things. It’s a bit like a guessing game of what could be but, in the absence of a crystal ball, you never really know for sure. However trivial, expectations often have the power to bend reality and no matter how unrealistic, once accepted they are treated as fact.
All too frequently poor expectations are used to set project deadlines. These expectations are fuelled by inexperience and the drive to under promise and over deliver typically yields the opposite for both. This, in turn, lowers confidence levels and decreases the propensity for future investment.
So why create an expectation? Project managers and firms commit to secure the work. The market is tough and the pipelines are dry but, as we’ve seen, empty promises are far more difficult to recover from in the long term.
Aggressive deadlines can drive teams and individuals to achieve more and innovate under pressure but unrealistic expectations result in reputational damage, compromised quality and safety standards and missed deadlines.
Accurate studies in conceptual, pre-feasibility and definitive feasibility are the first checkpoint for successful projects. While there is always a degree of uncertainty, experience and the right technical partner can build a strong foundation for future success. Knowing which risks are navigable and which aren’t determines the real feasibility of a project and having the aptitude to listen can mean the difference between profit and loss. While exploring and elaborating on the idea of the project, excitement grows, as do expectations, and the ability of the project leader to answer with an informed ‘no’ is arguably the most important skill within this team.
While technological advancements aid in determining and mitigating risk, there’s a lot to be said for hands on experience. The theory of navigating climates, leadership, equipment, systems and socio-economic factors is very different to the practical application and there is no algorithm to guide these decisions.
We are seeing mining companies, worldwide, shift their strategies to adopt new business and operating models to include new technologies – at a more rapid pace than ever before. This fundamental shift has the potential to transform safety outcomes, enhance performance and ultimately unlock new benefits in the sector.
That being said, a knowledgeable partner will know how to mix the old with the new. Innovative systems while running concurrently with sound advice can see studies through to successful project completion.
Having realistic expectations from the start and listening to honest feedback and advice is key to successful collaboration. This provides a strong foundation on which the project will be built. Agreeing on the end result allows project and client teams to build a realistic budget, timeline goals and drive collaboration from the onset.
