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The Operational Challenges of Successful Exploration
- 1. AMERICAS’ RESOURCES INVESTMENT CONGRESS The Operational Challenges of Successful Exploration George Osborne – Founder, saasXtra Exploration IRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY, 1 FEB 2011 www.ObjectiveCapitalConferences.com
- 2. operational risk A perspective presented by George Osborne, CEO of saasXtra
- 3. Technical Political risk risk Corporate risk
- 4. Technical Political risk risk Corporate risk market / credit risk currency fluctuation, commodity prices and interest rates operational risk inadequate or failed internal processes, people and systems
- 5. inadequate people and systems processes, or failed internal operational risk Basel II event type categories 1. Internal Fraud misappropriation of assets, tax evasion, intentional mismarking of positions, bribery • External Fraud theft of information, hacking damage, third-party theft and forgery • Employment Practices and Workplace Safety discrimination, workers compensation, employee health and safety 5. Clients, Products, & Business Practice market manipulation, antitrust, improper trade, product defects, fiduciary breaches 7. Damage to Physical Assets natural disasters, terrorism, vandalism • Business Disruption & Systems Failures utility disruptions, software failures, hardware failures • Execution, Delivery, & Process Management accounting errors, failed mandatory reporting, negligent loss of assets
- 6. inadequate people and systems processes, or failed internal operational challenge Utilisation of resources Planning • Focus on key objectives Strong teamwork & communications Effective execution/Project management
- 7. inadequate people and systems processes, or failed internal operational risk •over investment in the wrong IT no effective planning lost sight of objectives inflexible ‘integrated’ processes poor communications and lack of teamwork
- 8. inadequate people and systems processes, or failed internal operational success •fail to plan is to plan to fail - plan to keep processes and systems simple but effective keep everyone involved - people are your most important resource create a culture of resource optimisation and project management always keep the project objectives in mind and in tune with corporate objectives