An important aspect of the project evaluation process is the achievement of a clear and quantitative understanding of the primary drivers influencing project value and risk. A business scenario-based approach is required to ensure that the project meets value and risk hurdles over the short, medium and longer term. Adopting an optimising approach can aid significantly in the development of a project concept into a business that is optimal and sustainable in the longer term._x000D_
Through the application of case studies, based on work performed with various mining organisations during the last five years, this paper will demonstrate how project value and robustness can be optimised. Experience has demonstrated that applying this approach results in significant value improvements and risk reduction - primarily by application of a rigorous, fact-based analysis and optimisation process that rapidly increases management team understanding and insight of key driver of value and risk._x000D_
FORMAL CITATION:Whittle, G, Stange, W and Hanson, N, 2007. Optimising project value and robustness, in Proceedings Project Evaluation 2007, pp 147-156 (The Australasian Institute of Mining and Metallurgy: Melbourne).