Develop a common terminology and definitions across the industry, and standard definitions for production data and operational KPIs.
The Operational KPIs and Definitions project was initiated by the Data Access and Usage Working Group in 2012 out of a need to develop a standard terminology for KPIs. With operators increasingly relying on data, standard KPIs and definitions are required to better determine operating performance.
Draft standard operational KPIs and a draft Time Classification Model are in review. They capture operational status, events and activities, and place them into time classifications from which the standard performance definitions are derived.
Current project objectives are:
- Standard definitions for operational KPIs and terminology.
- A Time Classification Model, which enables consistent reporting, classification of operational events and activities, and confirmation that events are appropriately classified.
- Summary of the data needed to generate KPIs.
- Identification reporting and analytical requirements of vendors/third party companies.
A significant impediment to increasing mine operation productivity and time management is a lack of clear definitions and terminology when it comes to KPIs. They are an integral part of creating an effective benchmarking system to pinpoint opportunities to decrease lost operation time and oversee increased productivity. By providing clear definitions and common terminology for industry-wide use and a benchmarking system to provide comparisons, mine operators will have a common language to identify solutions to time management challenges.
There are a number of drivers for development of common definitions for production data and operational KPIs:
- Integration of information and technology.
- A starting point for identification of data requirements and benchmarking.
- Common terminology for use as a reference for mining systems, products and solutions.
- Using technology as enabler and as driver, with easier access to more accurate, precise information.