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Project management simulation is simulation used for project management training and analysis. Project management simulation is often used as 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.
Modeling and simulation (M&S) is the use of models (e.g., physical, mathematical, behavioral, or logical representation of a system, entity, phenomenon, or process) as a basis for simulations to develop data utilized for managerial or technical decision making.
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.
On top of that, simulation can be used to derive certain parameters that cannot be measured directly. Here again, a close alignment between simulation and testing activities is a must. Especially 1D simulation models can open the door to a large number of new parameters that cannot directly accessed with sensors. [39]
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 ...
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.
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