- PO Box Z5328, Perth St Georges Terrace WA 6831
Sector: Mining
Client: BHP
Location: Western Australia
Services Provided: Benchmarking
Background
In 2022 BHP’s Head of Asset Projects sponsored a benchmarking initiative within the business (Minerals Australia) called “Touchstone”. A vehicle was created internally to capture and report key project data from past, current and future projects to support the estimating effort.
WHAT WE DID
MGA supported the initiative by identifying suitable BHP Project Estimates and estimates from other similar organisations which were delivered by MGA and were considered suitable for benchmarking purposes. The relevant information was extracted from the project estimates in question and mapped to pre-designed templates, for uploading into the Touchstone database.
HOW IT TURNED OUT
The information created by Touchstone was used by MGA in support of a Capital Review/Target Plan Optimisation process for BHP’s Major Projects Portfolio in Study Phase. The project team realised cost savings of 20% against the target of 30%.
The Touchstone initiative has generated significant interest within BHP and has the support of Senior Management.
