Transformation program at a leading mining company
Challenge
A mining company wanted to reduce costs by $216 million within 12 months across its mines and business units. Particularly challenging was the distribution of these mines and the often-isolated locations that made collaboration difficult. The mining organization identified a portfolio of improvement initiatives but had no centralized way to track and understand success.
Approach
Wave was used to track the performance and completion of these initiatives as well as the action plans and savings achieved. Specifically, Wave helped in the following ways:
- Centrally tracking 1,300+ cost-saving initiatives with 100+ users
- Analyzing ongoing program progress to allow for intervention if necessary
- Reporting all savings achieved, both in terms of financial impact and key metrics
- Filtering and grouping savings achieved by department, site, owner, and initiative type
Results
After just 5 months of using Wave, the company management completely revamped its project management office and processes. To date, more than $190 million in financial savings is expected and an increasing number of team members are using the program to track progress as more initiatives are added.