The objective of this paper is to describe the research followed in creating a generalized, readiness assessment tool for mining projects. We start by highlighting the need for the assessment tool and then progress towards explaining the methodology followed during the study. The selection and finalization of the list of elements, sections, and categories that make up the unweighted values are described, followed by a summary of the weighting process applied. The outcome of this process is a weighted readiness assessment tool for mining project studies. The main benefits of the tool are that it will guide decision-makers and project managers through the definition phases of the project and improve the likelihood of project success.