Mining Balanced Scorecard. From strategy to execution. (PDF)

The document is a powerful tool that helps the global miner develop an integrated enterprise performance management strategy with the potential to boost the client's financial performance substantially by improving decision-making.

The Mining Strategic Performance Management process consists of the following elements:
•  Environmental scanning
•  Strategy formulation
•  Strategy implementation
•  Evaluation and control.

Environmental scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the mining company.

Its purpose is to identify CSF (Critical Success Factors) that help managers design various types of performance metrics, for instance KPIs (Key Performance Indicators), KEIs (Key Environment Indicators)&, KRIs (Key Risk Indicators). The simplest way to conduct environment scanning is through SWOT analysis, that incorporate boths competitive advantage SC (Strategic Capabilities: Strenghts & Weaknesses) and KSF (Key Success Factors: Opportunities & Threats).

Rather than evaluate a mining company using few financial measures, this document provides a Mining Balanced Scorecard that includes tangible measures, as well as intangible assets, such as learning & growth, risk management environment management, and internal mining process management. These perspectives are summarized in a Mining OpEx (Operational Excellence) through a lean mining approach.

This strategy has the potential to move the client forward in its journey to achieve high performance.