Why Mine Sites Are More Likely To Be Behind Plan Than Ahead Of Plan
Author, Mark Bowater is a Mining Engineer, Mine Scheduler, Mine Designer and Company Director from Australia It is noticeable that short term mine plans are much more likely to underperform than overperform. Considering probabilistic planning, P50 input assumptions, does not result in a plan with P50 outputs. P50 means a probability of 50%, so P50 input assumptions, such as equipment productivities or utilized time, means there is a 50% probability that the equipment will achieve that assumed production level. Whereas, a P50 output means that there is a 50% probability that…
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