Well-being of Russia and its economic and research potential are originally dependant on the development of the mineral and primary raw material complex. The mineral market has become more competitive, which requires innovative approaches in management as economic and market criteria are becoming critically important and the need for flexibility is rising. Quite often external conditions force modern mining companies to transform into more complex entities. New methods and procedures which would be meeting both internal and external needs of the mining enterprise are required to secure control over these complexes. The system of monitoring introduce at a mining company is one of such mechanisms. This system helps to carry out regular assessment of the mineral balance of the company, to shape prospects of the company’s development, to develop investment plans for unforeseen complications and to work out strategies to help the company reach its targets and transform potential threats into its advantages.
Planning and budgeting are among the most complex and responsible functions of management. the means to implement the action plan and budget serve as the basis for achieving the intended goals.
