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If there is we couldn’t find it Also in this issue: Yukon Power Detour Gold

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In thIs Issue of the global business report

organIzatIonal Project ManageMent DelIvers BusI-ness results

suncast Polytech

Detour golD

yukon energy

conexus creDIt unIon

farM creDIt canaDa

organizational Project Management Delivers Business results

Organizational project management (Opm) enables organizations to gain competitive advan-tages through effective delivery of their strategy. Opm is the integration of people, processes and information to deliver predictable project results.

in 2010, the Project ManageMent inStitute PubliShed a Survey on the PulSe of the ProfeSSion indicating that only 51% of ProjectS finiSh on tiMe and on budget. That could mean that by improving Opm, there is potential for an organization to almost double the number of projects completed, delivering greater business results.

Organizations that use standardized project management processes across the organization are shown to deliver more projects with better project results. This includes less scope creep and more projects achieving their business objectives. Opm provides a systemized approach with the coordination of people, processes and information across the domains of project, program and portfolio.

portfolio management is about selecting the right projects and programs to deliver the Or-ganization’s strategy. This is where organiza-tions determine where to invest their resources, including their people, to deliver business value. This is where project and program priorities are set.

program and project management is where ini-tiatives are executed using consistent processes to deliver business results contributing to the organization’s strategic value. Using consistent processes across the organization is shown to be more effective than only using the processes in some departments.

The discipline of project management delivers value to an organization by enabling the deliv

ery of consistent and predictable proj-ect and program results. It is these business results that enable organiza-tions to gain competitive advantages.

In today’s business climate with global competition, tighter budgets and more virtual work, organizations need to use portfolio management to address the alignment of projects and programs to their competitive busi-ness strategy.

The discipline of portfolio and project management is a necessary compo-nent for successful business.

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If you are not familiar with Edmonton based SUncast poly-tech Inc, now is the opportune time to become aware of this growing company. They have the unique ability to reduce downtime, improve wear, and environmental impact.

Long known as a supplier of wear parts to demanding and wide-ranging oilsands applications, Suncast has gained in-creased interest as a result of the benefits of its proprietary process technology called ReCast™. The technology developed by SUncast makes it possible to rebuild or recycle worn poly-urethane (pU) parts. It also creates a completely secure bond between virgin and cured pU cast elastomer, enabling ReCast™ parts to perform successfully in some of the toughest environ-ments. [nOTE: – 4 words deleted at end of prior sentence] Because cast elastomer pU is an expensive material and has not been recyclable, SUncast’s technology offers an opportu-nity for operators to reuse what was waste.

ReCast™ has been successfully used to rebuild wear parts for a variety of applications includ-ing pipeline pigs, drive sprockets and scraper bars, as well as suction and hub liners for slurry pumps. ReCast™ parts have been manufactured with as much as 90% recycled material.

Supplying tough parts that respond to environmental and operational concerns has been the responsibility entrusted to Suncast by its customers for many years. producing parts aimed at overcoming challenging wear issues while at the same time working with leaders in the field who insist on solutions that address environmental needs, has become Suncast’s special niche with some of the biggest players in the oilsands.

Suncast has been supporting its customers in supplying parts that meet or exceed life cycle ex-pectations and that also can be ReCast ™ many times, saving material costs and dramatically reducing the volume of waste deposited in landfills.

WHAT IS RECAST™

ReCast™ is a proprietary pro-cess technology that Suncast has developed to rebuild or recycle worn polyurethane (pUR) parts. The technology has been successfully used to rebuild wear parts for a va-riety of applications in oil-sands, hydrocarbon transpor-tation and other high wear environments.

Since Suncast did its early research and devel-opment of ReCast™, there has been a steady increase in both public and private sector em-phasis on finding solutions to environmental concerns. Suncast has responded with continu-al refinements to its ReCast™ process.

Environmental and regulatory goals that are expected to continue to get high profile at-tention in coming years include: waste mini-mization, reduction of landfill use/expansion and increased reuse/recycling initiatives. To varying degrees, ReCast™ contributes to the achievement of goals in all these areas. It is es-timated that Suncast has reduced landfill waste by hundreds of thousands of pounds, while achieving repeated high performance use of many types of ReCast™ parts.

Since Suncast did its early research and development of ReCast™, there has been a steady in-crease in both public and private sector emphasis on finding solutions to environmental con-cerns. Suncast has responded with continual refinements to its ReCast™ process.

Environmental and regulatory goals that are expected to continue to get high profile attention in coming years include: waste minimization, reduction of landfill use/expansion and increased re-use/recycling initiatives. To varying degrees, ReCast™ contributes to the achievement of goals in all these areas. It is estimated that Suncast has reduced landfill waste by hundreds of thousands of pounds, while achieving repeated high performance use of many types of ReCast™ parts.

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For many small businesses in an economically depressed area any development ends up be-ing a zero sum arrangement. As an example, consider a person who decides to open a new restaurant in a small town. In a city, if the proj-ect is a success you may steal a few clients from a number of other businesses. Th e pie is large enough to off er a slice to a new business. In a small town with underlying economic troubles, if you open a restaurant and are successful an-

Anyone who has lived in a rural area and seen job aft er job disappear in for-estry, manufacturing and retail, knows the feeling of despair this brings. You fear for your family, friends, and own job.

Th e thought is always present that you may have to move just to support your family. When a good job does present itself, everyone you know applies for it. You know if you get work, your friends and family may not.

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Detour golD

ProDuces 1200 new joBs for ontarIo

other business will need to fail to support the new venture. This prevents entrepreneurs

from taking a chance and starting new busi-nesses. In order for an area to recover, there needs to be a new source of revenue.

The Detour Gold project has produced a wave of optimism that has rippled through north-ern Ontario. At a time when jobs that sup-port a good quality of life have become extinct in much of rural Canada, 1200 new jobs in a region is nothing short of a gift from above for many area residents.

This project has revitalized a region and breathed life into an economy that needed help. “Without the mine, we’d be struggling quite a bit,” Cochrane mayor peter politis says. “The mine has completely changed the outlook of our economy.”

With new money in a small town, optimism bleeds into every aspect of local business. The area had not had a new housing in 30 years, now plans are under way to develop 400 new homes. With this will come the benefits of housing equity rising, construction and sup-port jobs-all adding new money into the re-gion. In fact some believe the population in the region could increase from its 5300 to over 8000.

Detour Gold initiated construction activities for the Detour Lake open pit mine in novem-ber 2010 following receipt of approvals from the provincial government. Federal approval was obtained in December 2011. Construction is now 54% complete and remains on schedule for gold production to start in the first quarter of 2013.

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The territory of the Yukon relies mostly on three hydro dams, with some communities relying on diesel generated power. What ratio the territory uses between hydro and diesel is represented on their website www.yukonenergy.ca

The Yukon faces a unique challenge in power production in that as a closed system it cannot sell excess power to neighboring regions. This makes new development challenging financially. Energy minister Brad Cathers stated that the territory has vast mineral resources, but little sur-plus power to sell to mining companies who want to get at those minerals. For anyone who follows the Canadian mineral industry, the interest in Yukon mining is growing geometrically. Each of these new mines will require energy from a territory that has very little surplus. This has led to research into the possibility of developing Liquefied natural Gas as a resource for developing the needed power.

“An advanced stage liquefied natural gas still appears to be the best mid-term solution for us,” Brad Cathers said. “To expand our grid capacity in the hydro projects requires significant in-

yukon energy

vestment for large scale hydro projects, they’re beyond the resources of the Yukon government to make that investment. That is an area where federal investment in that infrastructure would open up opportunities.”

In the short term Yukon Energy is working with consumers to conserve the existing power re-sources. This includes power saving audits on both the home and commercial front.

Alexco Resource Corporation and Yukon Energy are working together to identify energy ef-ficiency opportunities at the Bellekeno mine, mill and camp operations. As part of Alexco’s continuous improvement process and Yukon Energy’s energy conservation initiatives, the two corporations are sharing the cost of having an energy audit done of the property. The mining op-eration was able reduce its current yearly electrical power consumption and peak demand load.

With new development and upgrades to current Hydro facilities, new production technology, and advancing methods of conservation Yukon Energy is preparing to meet the new energy de-mands from the industrial sector.

Alexco.indd 1 2/14/12 9:33:15 AM

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many business people today work on a love/hate relationship with Credit Unions. On the one hand we love the volunteering they do, the work they provide, and the funding they release back into our communities. For a Credit Union like Conexus the contributions are tremendous, both financially and socially.

Conexus employees give back to every community they work in both through volunteering and financial contribution. In 2011, Conexus employees and sales professionals committed more than 33,500 volunteer hours to the communities in which they live and work.

This level of volunteerism combines with more than $2 million in financial support to communities across the province. And if this was not enough, Conexus is one of the 50 Best employers in Canada for 2012. This is the seventh consecutive year they have received such an honor.

This all comes under the love category of the Credit Union experience. What about the things we hate about Credit Unions? I could start to list them, but as this article is pertaining to Con-exus it would be a waste of time. All of the weaknesses many credit unions have are not present at Conexus.

In addition to being socially responsible, Conexus has incredible service and technology for ser-vicing the business sector. Consider a couple examples:

• Conexushas59locationsthroughouttheprovince• Stateoftheartonlinebanking• Easyelectronicmoneytransfersforbusinesses

The long and the short of things with Conexus is this Credit Union has everything we love about Credit Unions, without any of the compromises common in Credit Union Banking.

Conexus is one of the 50 best employers in Canada for 2012.

What did they have to say about the optimism in the industry? Well they were very specific. For instance, in the first half of last year farm land value rose 11.6%, this is the largest jump in recent history. With land rates rising, no one is selling out of farm land. This makes it hard to obtain, and leads to rental rates rising. So for starters, just on their land farmers are making more than ever.

A second reason for optimism was the Agri-culture business owners themselves. They are a rare mix of qualities that add up to a suc-cessful business person. They have the strong work ethic that Saskatchewan has always

As Canada’s leading agriculture lender, FCC is advancing the business of agriculture. In this day and age the business of agriculture is ad-vancing at a rate better than almost any other industry in Canada. I recently asked a business man how the farmers he knew in Saskatche-wan were doing, the reply caught me off guard. He replied “they are giddy”.

Optimism in the industry is at a rate of 82%, the highest it has been in years. So what makes agriculture such a great investment?With a portfolio of more than $22 billion we figured FCC would be the right group to ask about the industry.

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been known for. You know, the type of work ethic our grandparents had when they settled this land, not afraid to work hard and be proud of it. Yet these owners are not laborers, they are well trained business people who know the economics of commodities, crop values, and investment in automation.

A third reason is the scientifi c understanding of the land and environment that these Agricul-ture business owners possess. We all read reports daily about big business pillaging the land and destroying the soil. Th e new business person in agriculture respects the land, looks aft er it, knowing that the land needs to provide for years to come. Th is is, of course, not only good for the land but also good for the bottom line. Today’s consumer wants to purchase goods that are sustainably developed. With the new science of agriculture business people are able to maximize production while still caring for the land they depend on.

What is the story on agriculture? Good news now, and good news to come. If you have not in-vested in agriculture already, it is time to add it to your portfolio.

the challenges of sMall BusIness owners In oIl anD gasThere are many challenges that face primary and secondary businesses in the oil and gas sector that are specific to them. One example is suppose some drilling starts near a town and there is a huge influx of the workers in the community, how do the businesses in the area cope with the sudden increase in business and still maintain the level of service to the regular customers in the community. Or what happens when a small business lands a deal with an oil and gas company and they have to rapidly expand? plus the issues of growing rapidly, keeping costs under control, hiring and keeping good staff and still turn a profit! It seems like the small business owner in this sector has to be a magician, wonderwoman or superman.

What if we told you there is a way to do all this, work a normal work week and turn a profit, would you believe me? probably not.

So let me explain. Just like a drilling well, it has to have a stable and level platform to work from a business is much the same. It names a solid and stable foundation if that isn’t in place it won’t be able to handle any kind of grow, manage the staff well or turn a profit.

is about getting your product and service to the market in a regular and consistent manner. Th is is where customer service comes in. We have to look at it a little diff erently. Ever notice how about 20% of your customers take up 80% of your time? When you look at the fi nancial numbers you will see that those 20% also pro-vide about 20% of the revenue. If they take up 80% of your time servicing them and they are never satisfi ed you are probably losing money on them. Th ese are your D grade customers and you should fi re them! It will free up 80% of your time to service your A grade customers and get more A grade customers.

Th en comes time mastery. Th e average small business owner works 60-100 hrs/week usually over 6 or 7 days. Th e average business owner in Canada is working themselves into an early

Here are the 6 steps to massive results, the foundation is mastery. In mastery you have to work on fi nancial mastery, time delivery mas-tery and destination mastery.

Just like watching the gauges on the drill (or whatever other machinery makes sense) the gauges a business has to watch are the fi nancial ones. For most business owners it’s a case of, do I have money in my bank account and is there room on my credit card? Yes, then I am good. As much as we all hate numbers we have to have the fi nancial gauges on a monthly basis at least.

Th e fi rst one being what is my breakeven point daily, weekly or monthly. If you know what your break evenpoint is, when all cost of goods sold, fi xed and variable expenses are covered then you will know how many sales and trans-actions you will have to make to break even then make a profi t.

In order to do this you need to know what your revenue is preferably monthly especially if you are seasonal, your cost of goods sold, fi xed expenses, variable expenses, wages and what you pay yourself. most business owners pay themselves out of what is left over. So if it looks like there is no profi t that month they take little or no money for a salary. Surprising in a small business the employees make more money and take more time off then the owner. Th e owner is usually working for less than minimum wage! If you aren’t tracking these numbers now hire a great book keeper to start doing this. If you don’t, you may be one of the 80% of businesses that go under every 10 years in Canada. We say, it won’t happen to me. Th e odds say diff erent.

So once we have the basic fi nancial mastery down the next step is delivery mastery, which

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grave. no wonder 80% shut their doors and they go and get a job. Its easier. So what the owner has to do is figure out what their hourly rate is. For example if the business brings in $750,000 per year and the owner works say 49 weeks a year and lets put it at an average work week of 40 hours then their hourly rate is $255 (($500,000/(40 x 49)). So that means everytime the owner works on a task like admin, book-keeping or something an employee could do for say $35/hr it is costing the owner $220/hr. So if you as the owner are attempting to save a wage by doing it yourself you could be costing yourself a fortune. Because while you are do-ing the $35/hr task you aren’t working on the $255/hr tasks. The $255/hr tasks include how to get more A clients, which are the D clients as an example.

Finally, what is destination mastery all about? This is where the owner has to figure out what their personal, business and financial goals are for the next 5 to 20 years and determine how the business will assist them in achieving them. This is planning out the business. When was the last time you planned out your business for the next 90 days never mind the next 5 years. If you write out your goals and the plan to get there you are 10 times more likely to reach the goals then if you don’t write them out.

These are some of the basic steps that every business needs to have in order to have the solid foundation (mastery) before they can handle any growth in their company. Where is your business at today?

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