Introduction to the art and science of simulation
Proceedings of the 30th conference on Winter simulation
Energy production and trading: discrete event simulation for the risk of development of an oil field
Proceedings of the 34th conference on Winter simulation: exploring new frontiers
A Guide To The Project Management Body Of Knowledge (PMBOK Guides)
A Guide To The Project Management Body Of Knowledge (PMBOK Guides)
WSC '05 Proceedings of the 37th conference on Winter simulation
Simulation and optimization as effective DFSS tools
WSC '05 Proceedings of the 37th conference on Winter simulation
Using copulas in risk analysis
Proceedings of the 38th conference on Winter simulation
A hybrid fuzzy-probabilistic system for risk analysis in petroleum exploration prospects
Expert Systems with Applications: An International Journal
Using operation process simulation for a six sigma project of mining and iron production factory
Proceedings of the 40th Conference on Winter Simulation
Operations modeling and analysis of open pit copper mining using GPS tracking data
Proceedings of the Winter Simulation Conference
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As a result of the current economic crisis, which led to metal prices fall, mining company managers have been encouraged to cut costs. Thus, improvement projects to reduce cost has become major interest in the Mongolian mining industry. Mining projects are subject to high risk because of their size, uncertainty, complexity and high cost. This paper focuses on the development of a simulation method which provides an engineering tool for managing risks associated with the development of open mining improvement projects. The study will demonstrate the advantages of using simulation analysis for mining project management and how it reduces associated risks. The research was based on a case study of an optimization project of a mining plant based in Mongolia.