Why Projects Blow the Budget: Consultants Tell All

Welcome to a deep-dive conversation on the realities of consulting and project management. In this episode, Rene sits down with industry leaders —Tarrant Elkington (GM, Snowden Optiro Consultants), Andrew Hall (MD, AMC Consultants), and Mark Noppé (ex-CEO, XSTRACT Consultants & Chair of SRK) —to explore why so many projects run over budget and what consultants can do about it. We kick off with a candid look at “strategic misrepresentation” and the cognitive biases that affect both consultants and clients, and why even the best teams underestimate costs.

Hear candid stories, practical tips, and lessons learned on scoping, client communication, and the power of peer review. If you want to know what really happens behind the scenes in consulting, —and how to avoid common pitfalls, —this conversation is for you!.

Timestamps:
16:11 - Having discussions as early as possible
17:05 - Frustration with Procurement departments?
18:59 - It's about communication, stupid!
20:17 - Flyvbjerg's Anchoring approach to project scoping
22:02 - Are you aware of your own anchoring bias?
22:22 - Iteration!
24:46 - Hidden cost, take it on the chin!
29:47 - Fixed-price quotes?
41:26 - Building feedback loops and milestones
43:33 - The Power of Peer Reviews
46:50 - Risk management, governance, boards.

Measured is RSC’s podcast series, with RSC Managing Director and Principal Consultant René Sterk conversing with a range of industry personalities. Expect a range of talking points, many with a technical theme, but also some of our industry friends sharing anecdotes about their career in the mineral exploration and mining sector and thoughts on some of the issues the industry faces.

Please enjoy, and don't forget to follow RSC on all our social media platforms!
YouTube: @rscyoutube
LinkedIn: https://www.linkedin.com/company/rsc-mme-ltd
Instagram: rsc_gram
TikTok: rsc_tiktok
#measuredpodcast

In this conversation, Tim Craske, Director and CEO Geowisdom and Thinker Events, and Rene explore how to drive the industry forward and inspire the next generation of geologists. Discussing the importance of scientific debate and the challenges of fostering innovation in the mining industry they touch on the need for long-term strategy, the impact of geopolitical shifts, and the role of mentoring and nurturing new talent.

Charles Darwin Discovery Mentoring Program - for further info visit www.thinker.events

Timestamps:
02:48 The importance of work culture.
08:04 Industry problems - Closure of Geology courses in Australia
11:40 The industry is lacking strategy knowledge
15:17 Technology won't change exploration; a different perspective will.
20:36 Morrison Discovery Mentoring Program
27:23 Industry excitement
42:12 Challenge & debate - good for discovery?

Measured is RSC’s podcast series, with RSC Managing Director and Principal Consultant René Sterk conversing with a range of industry personalities. Expect a range of talking points, many with a technical theme, but also some of our industry friends sharing anecdotes about their career in the mineral exploration and mining sector and thoughts on some of the issues the industry faces.

Please enjoy, and don't forget to follow RSC on all our social media platforms!
YouTube: @rscyoutube
LinkedIn: https://www.linkedin.com/company/rsc-mme-ltd
Instagram: rsc_gram
TikTok: rsc_tiktok
#measuredpodcast

Rene Sterk dives into the world of National Instrument 43-101 and its upcoming changes. Victoria Yehl, who has worked with the British Columbia Securities Commission for 9 years, shares her expertise on NI 43-101, explains the key changes proposed by the Canadian Securities Administrators, and discusses the importance of engaging technical communication.

Want to learn more about National Instrument 43-101? You can find a range of resources at www.bcsc.bc.ca/mining/

The public feedback period on the proposed NI 43-101 amendments ends on 10 October 2025. For more information: https://www.bcsc.bc.ca/-/media/PWS/New-Resources/Securities-Law/Instruments-and-Policies/Policy-4/43101-CSA-Notice-and-Request-for-Comment-June-12-2025.pdf?dt=20250609170103

Timestamps:
2:10 - Victoria discusses her background and journey from being a geologist to joining the BC Securities Commission (BCSC).
10:22 - The BCSC setup and how the team works together.
18:15 - Some of the interesting changes in NI43-101.
22:30 - The Vancouver Resource Investment Conference.
24:20 - Are Retail investors aware of the NI 43-101 report?
39:27 - PEA Disclosure.
56:37 - Classification problems with mineral resources.
01:10:00 - Overregulation? or are these rules helping investors.

Measured is RSC’s podcast series, with RSC Managing Director and Principal Consultant René Sterk conversing with a range of industry personalities. Expect a range of talking points, many with a technical theme, but also some of our industry friends sharing anecdotes about their career in the mineral exploration and mining sector and thoughts on some of the issues the industry faces.

Please enjoy, and don't forget to follow RSC on all our social media platforms!
YouTube: @rscyoutube
LinkedIn: https://www.linkedin.com/company/rsc-mme-ltd
Instagram: rsc_gram
TikTok: rsc_tiktok
#measuredpodcast

In this thought-provoking conversation on the future of mining, Rene delves into the complexities of the mining industry with insights from industry experts Steve Beresford and Scott North. They explore the challenges of exploration, the impact of societal distractions, and the psychological and behavioural roots of the problem. Steve, a man of many hats, including Director of Power Metallic, Founder of Altai Resources, Adjunct Professor at UWA, and Exploration Geologist, and Scott, Co-Founder of Kamoa Capital and industry commentator, discuss why the industry struggles with exploration and the need for a shift in perception. They argue that money isn't the issue; rather, it's the desire to find deposits and the strategic decisions made along the way.

Further info about Steve and Scott’s ventures can be found at:
• Steve: https://www.altai-resources.com | https://www.powermetallic.com
• Scott: https://www.linkedin.com/in/scott-north-k/

Timestamps
02:15 - “Exploration issues are behavioural”
04:45 - or is it a finance issue?
15:12 - “If the project is going to fail, or if it is going to take 25 years, is a constant that is built in right at the very first decision”.
22:21 - Pointing out the behavioural patterns seen.
33:30 - Comparison between China and Australia’s critical minerals processing and skill set.
50:27 - The people required to tackle difficult projects.
1:00:07 - Being distracted by macroeconomics.

Measured is RSC’s podcast series, with RSC Managing Director and Principal Consultant René Sterk conversing with a range of industry personalities. Expect a range of talking points, many with a technical theme, but also some of our industry friends sharing anecdotes about their career in the mineral exploration and mining sector and thoughts on some of the issues the industry faces.

Please enjoy, and don't forget to follow RSC on all our social media platforms!
YouTube: @rscyoutube
LinkedIn: https://www.linkedin.com/company/rsc-mme-ltd
Instagram: rsc_gram
TikTok: rsc_tiktok
#measuredpodcast

Heath Arvidson, Chief Scientist at Quartex (formerly K2Fly), has a strong background in mining reconciliation and resource governance. He’s co-authored influential papers with Craig Morley and Rayleen Hargreaves, and recently published a white paper titled "A Management System for Mine Reconciliation", highlighting overlooked aspects of reconciliation.
In this chat with Rene, Heath shares how public reporting standards like JORC have driven better practices in resource estimation—and how similar rigor could transform reconciliation. From building sustainable systems to empowering generalists over specialists, the discussion dives into the people, processes, and governance needed to make reconciliation a value-adding business function. A must-listen for anyone passionate about mining, data integrity, and continuous improvement.

https://quartexsoftware.com/ - End-to-end software for high-risk industries
Quartex helps companies in high-risk, asset-intensive industries operate safely and efficiently. From flight scheduling and accommodation to permitting and resource governance, you’ll have everything you need to run every site right.

Timestamps:
01:36 - Heath's current focus - Reconciliation and Software Innovation.
07:00 - Quartex evolving Software for Governance and Training in Mining.
11:30 - Industry Challenges and the Push for Reconciliation Reform
18:00 - Bridging the gap in Mine reconciliation
35:00 - The Challenge of Standardizing Reconciliation Terminology
50:00 - Reconciliation as True Quality Control

Measured is RSC’s podcast series, with RSC Managing Director and Principal Consultant René Sterk conversing with a range of industry personalities. Expect a range of talking points, many with a technical theme, but also some of our industry friends sharing anecdotes about their career in the mineral exploration and mining sector and thoughts on some of the issues the industry faces.

Please enjoy, and don't forget to follow RSC on all our social media platforms!
YouTube: @rscyoutube
LinkedIn: https://www.linkedin.com/company/rsc-mme-ltd
Instagram: rsc_gram
TikTok: rsc_tiktok
#measuredpodcast

In this episode of Measured, Rene interviews Mo Srivastava, a Senior Consultant at Red Dot 3D and renowned geostatistician. Reflecting on his dynamic career, Mo shares his continually evolving perspective on the philosophies that underpin consulting, as well as some memorable stories and anecdotes from his global travels. Mo and Rene discuss how effective and meaningful consulting needs to be more than simply supplying technical solutions — long-term success requires working with clients to ensure they also have the resources (and mindsets!) to sustain these outcomes.

Timestamps:
00:02:05: Working and travelling around the world
00:12:35: The philosophy of consulting
00:16:40: Project anecdotes
00:32:58: What is a ‘consultant’?
00:40:27: Finding joy in work
00:44:48: Risk taking and career progression
00:51:31: Probabilistic projections and reporting
01:10:23: Statistical significance and materiality
1:29:46: Subjective experience and judgment accuracy

Measured is RSC’s podcast series, with RSC Managing Director and Principal Consultant René Sterk conversing with a range of industry personalities. Expect a range of talking points, many with a technical theme, but also some of our industry friends sharing anecdotes about their career in the mineral exploration and mining sector and thoughts on some of the issues the industry faces.

Please enjoy, and don't forget to follow RSC on all our social media platforms!
YouTube: @rscyoutube
LinkedIn: https://www.linkedin.com/company/rsc-mme-ltd
Instagram: rsc_gram
TikTok: rsc_tiktok
#measuredpodcast

Rayleen Hargreaves, Principal Consultant at Snowden Optiro took time out of her busy schedule to answer René’s questions on reconciliation, the common issues encountered, and new industry tools that can assist with reconciliation.

Timestamps:
1:38 Why is it so hard to break reconciliation out of Excel?
7:19 Dealing with people problems in reconciliation
10:00 Should there be peer review and auditing guidelines?
12:17 Why we need more literature on underground reconciliation processes.
13:58 Is PowerBI a threat, or something that should be embraced?

Measured is RSC’s podcast series, with RSC Managing Director and Principal Consultant René Sterk conversing with a range of industry personalities. Expect a range of talking points, many with a technical theme, but also some of our industry friends sharing anecdotes about their career in the mineral exploration and mining sector and thoughts on some of the issues the industry faces.

Please enjoy, and don't forget to follow RSC on all our social media platforms!
YouTube: @rscyoutube
LinkedIn: https://www.linkedin.com/company/rsc-mme-ltd
Instagram: rsc_gram
TikTok: rsc_tiktok
#measuredpodcast

After spending most of his working life within large organisations, Paul Hodkiewicz is now an independent consultant (Samarah Solutions).
Following his participation in a panel discussion at the MRE conference last month, Paul sat down with Rene and discussed how to handle the data overload many of us face, and the need to be able to agree to disagree in order to solve the big problems facing our the industry.

Timestamp:
2:23 Challenging the status quo.
6:33 Innovation and moving the needle
10:18 Resolution Reduction problem
12:50 Pixels to intervals – the translation gap in the industry
14:20 Drillholes as representative outcrops
17:40 Seeing possibilities in problems
18:22 Simple data tools and using what’s available
21:20 Future plans and teaching opportunities

Measured is RSC’s podcast series, with RSC Managing Director and Principal Consultant René Sterk conversing with a range of industry personalities. Expect a range of talking points, many with a technical theme, but also some of our industry friends sharing anecdotes about their career in the mineral exploration and mining sector and thoughts on some of the issues the industry faces.

Please enjoy, and don't forget to follow RSC on all our social media platforms!
YouTube: @rscyoutube
LinkedIn: https://www.linkedin.com/company/rsc-mme-ltd
Instagram: rsc_gram
TikTok: rsc_tiktok
#measuredpodcast