The Planning Group at Northrock Resources Ltd. (Northrock) has been able to change the way that information is gathered, analyzed and shared in the Company through the development and implementation of a web-based planning system.
This new system supports their strategic planning, budgeting, and operations analysis processes and replaces a largely spreadsheet-driven system which had required considerable manual effort to update and maintain as well as being prone to data errors. In addition, the new system provides the ability to do frequent lookbacks on capital projects.
Within this new planning system, one set of economic cases become the common data source for all planning, budgeting, and reserves forecasting activities eliminating the need to reconcile data between different sources. Northrock's Planning Group can perform their analysis without making repeated data requests to the teams.
This improved system has eliminated the manual effort required to support these corporate activities for each of these processes while at the same time providing improved data quality. This allows Northrock's Planning Group to provide data analysis that is consistent, repeatable, verifiable, and timely.
The benefits of the new system and process have led to its wide acceptance - field personnel to senior executive alike have made it part of their everyday work process.