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By A. T. Yu

The broken hill proprietary company Ltd., Australia's only steel producer, has come a long way. Since 1885 to reach today's. Capacity of 6.6 million long tons of ingot steel per year.* its Newcastle steel complex in New South Wales, located 100 miles north of Sydney and on-stream since 1915, has likewise shown continued impressive growth (fig. 1). The most recent expansion plans at Newcastle call for sub¬stantially increasing its production, with the help of some added facilities, but principally relying on the increase in efficiency of the furnace operation. Its modern raw materials blending system will playa major role in meeting Newcastle's new targets.

Jan 1, 1969

By A. T. Yu, K. A. Young, Ronald M. Hays, Sanford Terry, D. R. Campbell, J. K. Lovrien, W. L. Price, C. W. Matthews, W. R. van Slyke, S. P. Cole

Storage and transport systems are essential for mineral processing. Section 10 includes systems for storage and transport of dry bulk materials, slurries, and water necessary for operation of mineral pro¬cessing plants. All aspects of these systems are presented, including material characteristics; dry material placement in and reclamation from storage stockpiles and bins; dry material conveyance; hydraulics (liquid flow and pumping); slurry characteristics; slurry storage and reclaim, slurry flow (distributors, launders, and pipes), and pumping; water (primary and secondary process, reclaimed, fire, cooling, and domestic) supply, transport, and storage; equipment selection and sizing; power transmission; controls; and health and safety. The mate¬rials considered include crude ore; process and other water supplies; initial, intermediate; and final in-plant materials; finished materials; and tailings and other waste products. Section 10 is a compilation of practical operating data for engineers, technicians, and plant opera¬tors. For the design of mineral processing plants, including selection and sizing of equipment, the design engineer should consult with equipment manufacturers, suppliers, engineering firms, and plant op¬erators with specialized experience in particular materials handling methods. When unusual conditions are encountered, actual pilot or full scale testing may be required to insure adequate design. Operation of mineral processing plants is dependent on the proper engineering and construction of storage and transport systems for dry bulk materials, slurries, and water. It is obvious that processing plants cannot produce the required quantities of semifinished and finished products unless these material can be transported adequately to, through, within, and from the plant. Costs of storage and transport systems may exceed 50% of the total capital and/or operating costs. Considerable attention must be given to the design, layout, and engineering of these systems. These systems are interrelated with the mineral processing method and it is necessary to determine the best combination of mineral processing method and storage and transport systems. Storage and transport systems perform a major supportive func¬tion to mineral processing. The final selection of these systems depends on the final selection of the processing method and related systems (environmental control, tailings and waste disposal, etc.). The process¬ing method determines the characteristics of materials to be stored and transported; distances, elevations, flow rates for transport; and storage requirements. Flowsheet After selection of the processing method and related systems, a flowsheet must be developed. This flowsheet should indicate produc¬tion rate, percent solids or moisture, and specific gravity for all initial, intermediate, and final products or product flow streams. It also may be necessary to know the size analysis, chemical analysis, abrasiveness, and other physical characteristics of various product flow streams. The flowsheet provides basic information for plant layout, storage requirements, and selection and sizing of process and transport equip¬ment. Storage and transport systems often function improperly be¬ cause of inadequate flowsheet data or process revisions, resulting in improper equipment selection and sizing. Further details on plant design are presented in Section 33. After selection and sizing of process equipment, it is necessary to select the type of material transport equipment to be used for in¬plant materials handling as well as crude ore, tailings, and final prod¬ucts. The storage and/or surge requirements, including capacity and location, then are determined. Storage and/or surge capacity is neces¬sary for leveling production rate fluctuations due to variations in material characteristics; production scheduling; equipment mismatch¬ing, failure, or breakdown; and scheduled maintenance downtime. Variations in ore grindability will cause fluctuations in throughput or production rate for grinding mills and variations in ore grade will cause fluctuations in production rate for concentrating equipment. Variations in material moisture content and percent solids can have serious effects on the capacity of material transport equipment. In some cases, a blending system may be desirable or necessary to reduce variations and to obtain uniform production and/or metallurgy. Storage capacity often is needed because of different production schedules for various phases of the mining and mineral processing complex. As an example, the mine and coarse crushing plant may operate on a one- or two-shift-per-day schedule while the fine crushing plant and concentrator on a three-shift-per-day schedule. This would require storage between the coarse and fine crushing plants. Another example would be load-out storage where unit trains are used to haul concentrate or final products. The concentrator could be operated on a three-shift-per-day schedule while only I to 2 hr may be scheduled for unit train loading. This would require adequate load-out storage so that the concentrator can be operated continuously. Process equipment with mismatched capacities requires storage or surge capacity between the mismatched equipment to achieve oper¬ating efficiency. As an example, the fine crushers may have greater capacity than the rod mills. Storage between the fine crushers and the rod mills permits both the crushers and rod mills to be operated at optimum capacity with the crushers actually operating or running a lesser number of hours per day. Mismatched capacities for process and transport equipment also may require storage or surge capacity. Mismatching of equipment capacities most often occurs because of the difficulty in equipment sizing. Thus, the design engineer must anticipate where in the flowsheet these mismatching capacities are likely to occur while making every effort to assure that equipment is selected and sized properly. Equipment breakdown can cause major operating difficulties and lost production. These breakdowns can be reduced with adequate scheduled maintenance. Lost production due to nonscheduled down¬time caused by equipment breakdown can be reduced further by standby equipment and storage and/or surge capacity ahead of essen¬tial mechanical and electrical equipment. As an example, standby pumps and conveyors often are available as part of the in-plant trans¬port system. Storage and/or surge bins and tanks often serve dual functions, such as dewatering, mixing, and smoothing production rate fluctuations.

Jan 1, 1985

By R. D. Lord

This paper deals with the search for the best practical means of storing sulphide bearing tailings, where there is no residual excess of carbonate material. It is the common experience that the sulphide content decomposes, with the aid of bacterial action, and the resulting sulphuric acid escapes, along with any heavy metal solutes, through embankments that are usually porous to some degree. The problem is typified in the tailings of the uranium operations of Elliot Lake, Ontario, where mining started some 20 years ago. The approach to tailings disposal paralleled the practice for other hydrometallurgical plants treating gold and base metal ores. Impoundment areas were designed to retain solids, and a clear and neutral overflow was considered satisfactory practice. Now experience has shown that these areas, some idle for over a dozen years, release acids, in seepage and overflows, to an unacceptable degree. To protect natural water courses neutralizing plants are operated wherever required. Lime slurry is fed continuously into the tailings outflows in a quantity sufficient to raise the pH to 8.5 and precipitate heavy metals that may be in solution. The objection to this procedure is that the plants will require servicing indefinitely, unless a better remedy is found.

Jan 1, 1975

By V. Iordachita

In the beginning of the third millennium, the world mining industry has to cope with many challenges; the continuous need for mineral resource deposits and the mostly unsolved economic efforts should be accompanied with ecologic measures mankind has to take in order to avoid self-destruction. The present paper analyses the possibilities of using underground mining spaces in Romania for storing dangerous waste and suggests viable solutions. The characteristics of dangerous wastes and their disposal in suitable underground spaces are analyzed. Also, some methods for deactivating dangerous solid wastes as well as the importance of monitoring underground spaces in order to eliminate environmental impact risks are presented.

Jan 1, 2008

By H. Colin

The basic industry, such as mining, ferrous and non-ferrous, cement and aggregates, stores and handles millions of tons of raw materials, re- quiring often different types of storage, blending and reclaiming systems.

Jan 1, 1980

By Wolfgang Pietsch

DR iron') is a generic term for metallized product that results from the direct or solid state reduction of iron ore. In direct reduction, iron oxides are reduced to metallic iron in the solid state without an intermediate melting step. MIDREX ® Iron is the DR iron material produced in the MIDREX ® Direct Reduction Process. Except for some thermal and mechanical degradation, the external physical form of as-reduced DR iron is the same as the feed material. Chemically, oxygen associated with iron is removed leaving a very porous structure. Figure 1 is the scanning electron micrograph (SEM) of the internal surface of a MIDREX Iron pellet obtained from a Swedish oxide pellet during reduction at 760 °C. Figure 2 is the SEM of a polished and etched cross-section through the same pellet showing the amount of intraparticle porosity. As a result of this high porosity, apparent density of DR iron is relatively low, typically a¬round 2 g/cm3, and specific surface is extremely high, typically around 1.0 m2/g or more. Both density and specific surface depend on the raw materi¬al and the operating conditions of the direct reduction plant. Normally, more than 97% of the available iron is reduced into metallic iron with the rest mainly in the form of wustite (FeO). During direct reduction, the gangue in the iron remains essentially unchanged. Removal of oxygen and the corre¬sponding reduction in weight result in a slightly higher percentage gangue in the product than in the raw material.

Jan 1, 1976

By T. J. Cox

The Red River is located within the Sangre De Cristo Mountain Range in northern New Mexico. An approximate 12-mile segment of the river from the town of Red River to the village of Questa (Questa) includes several hydrothermal alteration zones. Alteration ?scars? formed as a result of rapid chemical weathering and physical erosion of pyrite-rich hydrothermally altered rocks. Storm water runoff from the scar drainages contributes metal-laden, acidic water to the river and creates a visible plume of discolored water in the river. Acidic runoff reduces the river pH from 7 to the mid 3s for at least 2 hours during large storms and the low pH water continues downstream. Runoff from scar drainages increases some metal concentrations in the river from below chronic ecological criteria to as much as two orders of magnitude greater than acute ecological criteria, and results in acutely toxic conditions for macro-invertebrates. A general improvement in the river?s water quality occurs downstream due to dilution from tributary inflow from non-mineralized watersheds, the natural buffering capacity of the river, and storm water controls at the Chevron Mining Inc. Questa mine.

Jan 1, 2011

By Howard M. Wells

Investment in minerals development usually entails big financial outlays. which will remain at risk for a long time before the venture can begin to generate a return cash flow. Before 'committing himself to such a venture the investor would be wise to carefully examine the possible consequences of his exposure to risk. In this context risk is defined in multiple terms, which relate the magnitude of possible loss with the probability that such loss may occur--normally the probability will decrease as the amount of possible loss increases. The analysis of risk is an essential component of the decision making process, especially so in the case of low grade high tonnage mining ventures where a very real possibility exists that future unfavorable circumstances may lead to losses that could cripple or ruin even the richest corporation. Wells (1979) postulates a rationale for making the investment decision under uncertainty based on the comparison of two independent risk criteria: 1) the risk inherent in the venture represented by the negative portion of the cumulative distribution of the net present value (NPV), as derived by a stochastic evaluation procedure, 2) the limits of risk the decision maker is willing to accept, taking account of the financial capacity-of the 'firm to absorb various levels of future cash shortfall should the venture prove disappointing. The chance the investor would be prepared to accept can be expected to decrease as the amount of the possible shortfall increases. The limits of acceptable risk are-defined by a curve called the "LL-curve" which can be directly compared with the cumu¬lative NPV curve. A positive investment decision is implied if the limits of acceptable risk are not exceeded.

Jan 1, 1982

By Vasilis Androulakis, Caroline Gerwig, Zach Agioutantis

Mining operations that involve caving of the overlying strata are designed so that caving occurs in a controlled manner by progressive overburden failure. However, there are many cases where the overlying strata bridge over the caved area for longer periods than anticipated and desired. As the caved area expands with the advance of the mining panel, excessive amounts of energy accumulate in the roof strata which will be rapidly released when the overburden eventually fails.

By Stuart Brashear, J. W. Reil

The manuscript of this paper was not available for publication when the Proceedings went to press. Should the authors elect, they may distribute copies at the time of the Symposium.

Jan 1, 1986

By Christopher J. Bise

INTRODUCTION Perhaps no other area reflects the art as well as the science of mining-engineering design quite as obviously as strata control. This is due to the fact that the design of mining structures is difficult because rock rarely behaves as a homogeneous medium. Further, the original state of stress and the mechanical proper- ties of the in situ rock are somewhat difficult to deter- mine. However, those aspects that are hard to treat mathematically can and have been successfully approached by model studies and in situ measurements. This chapter will review the fundamentals of strata- control design and will provide examples of applications to typical problems. STRESSES AROUND MINE OPENINGS A close examination of Fig. 1 reveals that, prior to mining, stresses exerted in the overburden can be in both the horizontal and vertical directions. In the example problems of Chapter 1, it was shown that the maximum compressive stress (uv) at any depth (D) below the surface can be approximated as follows: [ ] Further, the lateral stress (oh) is related to the maxi- mum compressive stress by utilizing Poisson's ratio (µ): [ ] As soon as a heading is driven, such as the one in the coal seam shown in Fig. 2, the stresses shift to the sides, or abutments, of the opening. Clearly, these compressive stresses around the opening exceed the pre-mining conditions. The problem of designing an underground opening, therefore, is to determine the maximum stresses and to note if they exceed the ultimate strength of the rock. Table 1 lists several rocks with their corresponding strengths. Figs. 3 to 5 depict the boundary stress concentrations around circular, ovaloidal, and rectangular openings. M is the ratio of the horizontal stress to the vertical stress, or as defined above, p/(l-p). This text will concentrate on the state of stress represented by M = 0.33, which corresponds to the condition of no lateral deformation in a rock having a Poisson's ratio of 0.25. For an ovaloid with an opening width-to-height ratio of 2.0 (Fig. 4), the boundary stress concentrations are at their maximum values at the comers of the opening, with values in excess of 3.0. If the depth of overburden is 500 ft, then the maximum boundary tangential stress ([ ] ) of the ovaloid is: [ ]

Jan 1, 1986

By Zbigniew Hladysz

INTRODUCTION In the Polish coal mining industry, the Upper Silesian coal basin has an important position. It contributes over 98% of the total coal production of Poland which reached 193 mt in the year 1979. In view of the significant urbanized area in this region as well as the industrial potential, it is important to protect the surface by stowing the mined out underground workings. Approximately 18% of the total production is mined from longwall faces with stowing. However, caved longwall faces are most popular. In the upper Silesian coalfield, approximately 337 highly mechanized longwall faces are in operation. Out of these 337 faces, 301 longwall faces are caved. One of the main requirements for effective and safe coal extraction is a suitable method for strata control. We can divide the complex process of strata control into four steps: 1. Strata investigations 2. Selection of supports for roadways 3. Selection of supports for longwall 4. Rock bursts and other hazards protection STRATA INVESTIGATIONS Estimation of the structure and physico-mechanical properties of the rock mass surrounding the workings is an important constituent of strata control. These factors definitely influence the rock stability, support load, working conditions as well as the mining technology. Complex methods of strata investigations involve a set of indicators enabling the estimation of the stability of the roof rock, strength of the coal seam and load bearing capacity of the floor. The basis for the evaluation of roof stability for a coal seam is the classification according to the resistance to bed separation (1). The bed separation resistance is equal to the strength of the rock in tension perpendicular to the bedding plane. In order to properly classify a rock, it is indispensable to make continuous profiles of the bed separation resistance from the immediate roof up to a distance of three times the thickness of the coal seam. The profiles are developed by utilizing mine roof investigations with the hydraulic borehole penetrometer. (Fig. 1) The penetration resistance is determined by the critical pressure required to cause crushing of the rock by the penetrometer indentor (2). The classification of roof rocks and their ability to cave spontaneously during longwall mining is shown in [Fig. 2]. The measurement of the critical pressure also allows for the determination of the compressive strength of the rock, the index of workability and roof fissuration.

Jan 1, 1982

By K. M. Kolin

ABSTRACT OF ORAL PRESENTATION A discussion of current U. S. Bureau of Mines research into the problem of strata control in multiple Western coal seams will be presented. The problem and research priorities will be described as determined from interviews with major Colorado and Utah mine operators as well as governmental agencies responsible for Federal leases. Proposed contract research and ongoing in-house studies will be discussed, including case histories and results from projects being conducted at two multiple seam operations in Utah.

Jan 1, 1977

By W. G. Pariseau

"The Crandall Canyon Mine (CCM) is located in the Wasatch coal field in central Utah. Extensive longwall mining at CCM preceded a decision to recover coal left in barrier pillars on each side of a set of main entries extending far into the mine. During mining in March 2007, a major bump occurred that led to cessation of mining in the barrier pillar on the north side of the mains and to the start of mining in the south barrier pillar. Subsequent loss of ground control in August 2007, through coal pillar bursts had tragic consequences with loss of six miners and shortly afterward three rescue team members. A U.S. Mine Safety and Health Administration (MSHA)report describes the events in detail (MSHA, 2008).An important lesson to be learned from CCM is the need to select a computer program suitable for pillar design. Computer programs are engineering tools and selecting the right tool for the job is essential. In this regard, minimum program requirements include capability for computing stress distribution within a pillar and adjacent roof and floor strata. The reason is simple: strength of rock is stress dependent; both vary from point to point in pillars and adjacent strata. Preferably, one should follow the evolution of stress as the mining plan is executed from start to finish to assure safety or to warn of a potentially hazardous situation developing as mining progresses.The approach to the problem posed by barrier pillar mining at CCM is conventional in the sense of applying well known finite element modeling techniques to analysis of a proposed mining plan. The engineering purpose is to evaluate the mining plan with respect to ground control questions including roof, floor and pillar safety. Results of previous two-dimensional finite element analysis indicated pillar safety was by no means assured (MSHA, 2008; Pariseau, 2008; Pariseau, 2011). Geometry of barrier pillar mining is limited in two dimensions for example, crosscuts are not seen in vertical cross sections. While three-dimensional analyses are preferred, even moderately sized regions often lead to very large problem sizes that exceed computer capabilities. However, a recent development in finite element modeling of tabular deposits allows for whole mine analysis in three dimensions. This technique involves a dual node - dual mesh concept. Both have been used separately in much earlier work, but are only now used in combination. It is possible to have an estimation of subsidence at a kilometer scale and details of stress, strain and displacement about barrier pillars, main entries and pillars, and so on at a meter scale (Pariseau, 2014). No compromise involving empirical formulas or similar guess work is required. Indeed, all calculations are based on first principles: physical laws, kinematics, and material laws. Effects of joints and in situ variability or uncertainty in strata properties, elastic moduli and strengths, may be included for greater realism. An important objective of the present study is to assess the role of three-dimensional pillar geometry in arriving at conclusions regarding barrier pillar mining versus two-dimensional results."

Jan 1, 2014

By W. G. Pariseau

"BACKGROUND The Crandall Canyon Mine (CCM) is located in the Wasatch coal field in central Utah. Extensive longwall mining at CCM preceded a decision to recover coal left in barrier pillars on each side of a set of main entries extending far into the mine. During mining in March, 2007, a major bump occurred that led to cessation of mining in the barrier pillar on the north side of the mains and to begin mining in the south barrier pillar. Subsequent loss of ground control in August, 2007, through coal pillar bursts had tragic consequences with loss of six miners and shortly afterwards three rescue team members. An MSHA report describes the events in detail (MSHA, 2008). An important lesson to be learned from CCM is the need to select a computer program suitable for pillar design. Computer programs are engineering tools; selecting the right tool for the job is essential. In this regard, a minimum program requirement is capability for computing stress distribution within a pillar and adjacent roof and floor strata. The reason is simple: strength of rock is stress dependent; both vary from point to point in pillars and adjacent strata. Preferably, one should follow the evolution of stress as the mining plan is executed from start to finish to assure safety or to warn of a potentially hazardous situation developing as mining progresses. The approach to the problem posed by barrier pillar mining at CCM is conventional in the sense of applying well known finite element modeling techniques to analysis of a proposed mining plan. The engineering purpose is to evaluate the mining plan with respect to ground control questions including roof, floor and pillar safety. Results of previous two dimensional finite element analysis indicated pillar safety was by no means assured (1, 2, 3). Geometry of barrier pillar mining is limited in two-dimensions, for example, crosscuts are not seen in vertical cross sections. While three dimensional analyses are preferred, even moderately sized regions often lead to very large problem sizes that exceed computer capabilities. However, a recent development in finite element modeling of tabular deposits allows for whole mine analysis in three-dimensions. This technique involves a dual node – dual mesh concept. Both have been used separately in much earlier work, but are only now are used in combination. Estimation of subsidence at a kilometer scale and details of stress, strain and displacement about barrier pillars, main entries and pillars, and so on at a meter scale are possible (4). No compromise involving empirical formulas or similar guess work is required. Indeed, all calculations are based on first principles: physical laws, kinematics, and material laws. Effects of joints and in situ variability or uncertainty in strata properties, elastic moduli and strengths, may be included for greater realism. An important objective of the present study is to assess the role of three-dimensional pillar geometry in arriving at conclusions regarding barrier pillar mining versus two-dimensional results."

Jan 1, 2015

By S. Chunhui, W. Anbin, R. B. Cook

The Xicheng is one of China's largest lead-zinc (Pb-Zn) districts with known minable reserves in excess of 10 Mt (11 million st). The centrally located Changba-Lijiagou and nearby deposits are representative of the district. They consist of stratiform and stratabound zones of pyrite-sphalerite-galena mineralization within deformed, moderately metamorphosed Middle Devonian clastic and carbonate units. When considered with other similar districts that extend for several hundred kilometers to the east, a major episode of Devonian sedimentary exhalative mineralization is indicated.

Jan 1, 1992

By J. C. Reid

Pre-cambrian scheelite deposits in Northeastern Brazil are widespread in a high grade metamorphic terrain. Previously these deposits had been interpreted as contact-metasomatic. In this paper, a volcanigenic model is invoked based on the volcanic setting (proximal to distal) and the absence of associated felsic intrusives and spatially associated metasomatic skarns. The tungsten was introduced into sediments by volcanic- exhalative processes and subsequently remobilized and further concentrated by heat and metamorphis fluids associated with high-grade metamorphism and migmitization. An alternative syngenetic - diagenetic model is discussed which requires the transport of tungsten by heteropoly acids and deposition of the tungsten as a function of Eh and Ph conditions and different clastic depositional environments. While such stratabound tungsten deposits are considered rare in North America, the hypotheses developed in this paper may open new areas for exploration.

Jan 1, 1983

By Russell Barr

Strategic alignment throughout a mining organization is critical to effective strategic execution and good business performance. The alignment of strategic goals and objectives in the different operations and functions in a large global operation is a challenge facing executive management in light of legacy organizational structure and processes. An additional confounding factor in strategic alignment of acquisition and new project expansion is that mining projects and operations are frequently multi-cultural in terms of country origin as well as organizational culture. This brings together many cultures to accomplish the project or complete an acquisition (Financial Times, 2006). The mining industry presents numerous challenges to executives and mine management by the nature of the operation and organizational processes used in running it. For example, there seems to be an inherent conflict between the individual goals of the components that constitute a mineral processing operation (the mine, the mill, the smelter and the refinery), and lowest cost production of the final product. Managers of these component operations have specific objectives passed down from the corporate executives. Those site managers tend to be compensated based on throughput and perform to this main metric. This tendency to maximize throughput for an individual operation can contradict the general process flow of a best-fit solution to producing the final product at the lowest cost. In an effort to become more aligned, firms are increasingly using balanced scorecard derivatives at great cost and effort (whether internally or externally sourced) in an attempt to help with strategic alignment. Balanced score-cards have been effective in providing a good strategic scorecard to companies with some measure of strategic alignment. Many firms make this effort of using balanced scorecards. However, most firms are not strategically aligned or, at best, are sub-optimized, in terms of strategic alignment (Kaplan and Norton, 2006). The tendency in mining operations is to focus on operating individual components as optimally as possible and stretching existing assets to the best possible production rates. ?Making tons? is the common operational focus. Numerous factors underpin this focus and can affect the ability of the operation?s ability to align properly with the corporate strategy and strategic goals. Critical factors are legacy organizational structure, culture, processes and performance measurement systems. Changing anyone of these factors to affect better strategic alignment requires significant attention to managing change.

Jan 1, 2008

By Victor Bush

Most governments recognize that energy efficiency represents a partial solution to reducing global capital shortages and environmental crises that threaten to seriously impede economic growth. Much of the United States and many foreign countries are embracing the concept of Strategic and Tactical Energy Planning (STEP) which incorporates Supply Side Management (SSM) and Demand Side Management (DSM). Since SSM comes at twice to three times the cost of DSM, it makes economic sense to employ the energy conservation techniques of DSM. This paper will explain these concepts, the effects of the energy industry restructuring, and risk management for the development of an overall strategic and tactical energy plan.

Jan 1, 1999

Capital budgeting and investment analysis have, to this point, been beyond the scope of this text. However, a recent conceptual development by John K. Shank and Vijay Govindarajan in the capital budgeting literature is of interest to operations managers because it (1) employs some of the cost management tools outlined earlier in this text and (2) provides a useful framework for using cost management techniques to improve the competitive position of the firm. ft Shank and Govindarajan present a method of analyzing proposed expenditures that is not based on discounted cash flow measures. Their approach employs a combination of three analytical tools: value chain analysis, strategic positioning analysis, and cost driver analysis. In each of these, cost and revenue information is used in ways normally not associated with conventional budgeting. Using this framework, capital projects are selected based on their ability to improve the firm's strategic position. Shank and Govindarajan have termed this approach "strategic cost management."

Jan 1, 1999