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Because the results of a simulation are only as good as the underlying model(s), engineers, operators, and analysts must pay particular attention to its construction. To ensure that the results of the simulation are applicable to the real world, the user must understand the assumptions, conceptualizations, and constraints of its implementation.
The simulation provides an opportunity for learners to solve typical project problems, to make mistakes and analyze them. Pedagogic goals of project management simulation can be to teach how to: determine goal and objectives of a project; estimate cost; plan tasks of the project; plan resources in a project; use project management tools;
Project management simulation is simulation used for project management training and analysis. It is often used as a training simulation for project managers. In other cases, it is used for what-if analysis and for supporting decision-making in real projects. Frequently the simulation is conducted using software tools.
Simulation-based optimization (also known as simply simulation optimization) integrates optimization techniques into simulation modeling and analysis. Because of the complexity of the simulation, the objective function may become difficult and expensive to evaluate. Usually, the underlying simulation model is stochastic, so that the objective ...
Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the triple constraint (now including more constraints and calling it competing constraints) for projects, which is cost, time, quality and scope for the first three but about three additional ones in ...
In most cases, the terms business (simulation) game and management (simulation) game can be used interchangeably and there is no well-established difference between these two terms. Greenlaw et al. [ 11 ] determine a business game (or business simulation) as a sequential decision-making exercise structure around a model of a business operation ...
System dynamics is a methodology and mathematical modeling technique to frame, understand, and discuss complex issues and problems. Originally developed in the 1950s to help corporate managers improve their understanding of industrial processes, SD is currently being used throughout the public and private sector for policy analysis and design.
Simulation modeling is the process of creating and analyzing a digital prototype of a physical model to predict its performance in the real world. Simulation modeling is used to help designers and engineers understand whether, under what conditions, and in which ways a part could fail and what loads it can withstand.