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Page : KLM Technology Rev 01

before the profitability of a project can be assessed. Cost estimation is a specialized subject and a profession in its own right, but the design engineer must be able to make rough cost estimates to decide between project alternatives and optimize the design.

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This article presents cost models for open pit mines, which takes into account cost uncertainty. In this paper, cost uncertainty is considered as cost of under production, and cost

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PwC Three industry focus areas of productivity Labour Investment Capital Operating Asset What How Why Output generated per hour of work undertaken. It is measured in dollars of gross value added (GVA) per hour. Real output($) per unit of capital services($).

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