Details

Title

Risk Management Model in Surface Exploitation of Mineral Deposits

Journal title

Archives of Mining Sciences

Yearbook

2016

Numer

No 2

Publication authors

Divisions of PAS

Nauki o Ziemi

Abstract

<jats:title>Abstract</jats:title><jats:p>Risk management is an integrative part of all types of project management. One of the main tasks of pre-investment studies and other project documentation is the tendency to protect investment projects as much as possible against investment risks. Therefore, the provision and regulation of risk information ensure the identification of the probability of the emergence of adverse events, their forms, causes and consequences, and provides a timely measures of protection against risks. This means that risk management involves a set of management methods and techniques used to reduce the possibility of realizing the adverse events and consequences and thus increase the possibilities of achieving the planned results with minimal losses.</jats:p><jats:p>Investment in mining projects are of capital importance because they are very complex projects, therefore being very risky, because of the influence of internal and external factors and limitations arising from the socio-economic environment. Due to the lack of a risk management system, numerous organizations worldwide have suffered significant financial losses. Therefore, it is necessary for any organization to establish a risk management system as a structural element of system management system as a whole.</jats:p><jats:p>This paper presents an approach to a Risk management model in the project of opening a surface coal mine, developed based on studies of extensive scientific literature and personal experiences of the author, and which, with certain modifications, may find use for any investment project, both in the mining industry as well as in investment projects in other areas.</jats:p>

Publisher

Committee of Mining PAS

Date

2016

Identifier

ISSN 0860-7001

DOI

10.1515/amsc-2016-0022

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