Once you launch the simulation you will be taken to the “Prepare” screen. Here you will either see a link to “Launch the Simulation” or a note that your Professor has not yet opened the simulation for use. You may also see a short note written by your Professor.
This short paper demonstrates the use of the time average for risk management in a simulation setting. In a large sample setting, I show that the ensemble average decreases linearly with the quantity of put options, whereas the time average has a convex shape. These different shapes lead to very different risk management behaviour, which concur with stylized facts reported in work by Ole Peters (see Towers Watson, 2012).
to integrate various disciplines by combining technical fields such as hydrology and water resources management (e.g. wa- ter allocation, dams, hydropower generation, irrigation sys- tems etc.) with socio-economic disciplines. The simulation allows for repetition (trial and error) and, as such, rein- forcement of knowledge acquisition. The game can also be adapted to new scenarios, reflecting the shifting emphasis within the water sector. Further, it allows a participant to ex- perience beyond one’s established reality, by offering a flex- ible systems that can be modified and adapted through fic- tive reform processes, development of policies, or the intro- duction of hydrological changes (e.g. droughts, floods, over abstraction of groundwater). Simulations bring participants to a table to negotiate and build consensus within the group and with other groups. Players will directly experience the different power status of the stakeholders, the control cer- tain stakeholders (unlike others) have over strategic resources and the informal influence of the stakeholder (personal rela- tions, networks, leadership etc.). Moreover, simulations stim- ulate interaction of participants by forcing players to work in a team and build consensus on certain measures/decisions within the simulation. At the same time, simulations also re- flect imbalances that participants will also experience in their daily professional life. Some participants will have stronger leadership skills, have more knowledge or ability to analyze a given situation or will be better negotiators. The outcome of the simulation will largely depend on these factors.
Simulation modeling is introduced as a tool that enables continuous management of the functionality of the project product already during the project implementation. The objective of this project is to put discrete event simulation in place to the project management framework with management emphasis on project scope. Computer simulation is not a new method. Simulation is widely applied, e.g. in system engineering design. In project management, simulation can be used either in simulating the project product or the implementation, e.g. with aspects of time, cost, or other parameters. The main advantage of discrete event simulation is that it incorporates the impact of time into performance evaluation.
This paper summarizes a model-based management consultancy project carried out for Halk Sigorta, one of the leading firms in the Turkish insurance sector. Managing directors of Halk Sigorta felt that the company had some potential problems and requested that an external team (Bogaziçi University socio-economic system dynamics research group – SESDYN) analyze these problems scientifically. The project was carried out in 1996-1997. The main objective of the project was to address certain managerial/organizational problems of the company by using dynamic simulation analysis. The dynamics behind the organizational problems of the company were analyzed by building a managementsimulation model of the company. While the project focused mainly on the “strategic”, long-term management problems, some “tactical” short-term problems in the “claims” and “accident” departments were modeled as well. In this paper, we focus only on the strategic, long-term problems, present the strategic simulation model and summarize the results obtained at the end of the project. (See Barlas et al. 1997, for summary descriptions of the “claims” and “accident” models).
There are a lot of business simulation that have been used in university and the corporate sector. The business simulation software ‘Executive’ allows students to role play as the management team of a real business performing within a real market condition (Peppercorn 1989), while another software ‘Tango’ prepares and trains students as a business consultant (Meridith, 2000). Sales ManagementSimulation (SMS) could be used for sales management courses and sales training programs (Faria & Dickinson 1994) where students make 29 strategic decisions which affects sales force performance. At London Business School, supply chain game was developed as a training aid to understand the complex dynamics of supply chain systems (Braithwaite & Morgans 1993). Ashridge Management College (UK) has designed computer based business simulation to give students a better understanding of crucial elements for success in a complex and changing commercial environment (Fripp 1994).
18 The simulation model described by Everett (2002) considers both bed and operating theatre resources. A detailed waiting list is continually updated by draws from Poisson distributions governing each patient type and urgency, with rate parameters estimated from historical data. Alternatively, real waiting list data can be read in from a file, and used in this way, the model can reportedly be used to support real-time decision-making. However, details of how the model might be initialised to facilitate real-time decision support are not provided. The surgery hours and bed days required for each patient are drawn from a Normal distribution, and patients are selected at the beginning of each day so that the sum of their expected theatre times does not exceed the total time available for that day. An index which represents both the urgency of the procedure, and the time spent on the waiting list so far also influences patient selection. Although this model contains many of the components deemed to be important for this research, its scope is high-level; including multiple hospitals which draw from a centralised waiting list. At this level-of-detail, beds are treated as a homogenous resource, therefore dependencies between wards within a single hospital cannot be modelled.
Identification of performance gaps is the most critical step in strategic business planning process. If you make mistakes in identifying performance gaps at this stage, you will end up developing a business action plan that will require you to use your scarce resources to solve those gaps you have incorrectly identified. In other words, you will use your management team’s time, effort and company resources to improve performance measures that may not need any improvement while your actual performance gaps will be worsen. That is why it is crucial to identify the most critical performance gaps that may be negatively influencing your company’s performance. In order to identify the most critical performance gaps, the first step is to calculate all performance measures and compare each one of them to the decision criteria. The second step is to rank all of the performance gaps in order to identify the most critical gaps.
in serious capacity constraints, such that some NHS clinics are failing to maintain the recommended follow-up/treatment intervals. This may have an increased risk of permanent vision loss, with huge impact on inde- pendence and quality of life of patients. It is, therefore, clear that robust and long term retinal service models that do not compromise visual outcomes, such as T&E in combination with virtual clinics, are required across NHS clinics in order to meet the needs of local populations currently and in the future. Such long-term management strategy of retinal dis- ease in virtual clinics has been employed by a number Trusts in the UK and proven to be safe and effective if properly implemented .
SYMFOR is a framework used to simulate the effects of silviculture on the growth and future yield of tropical forests. The framework is made up of models of the natural processes in the forest (ecology) and the management of forest (silviculture) The ecological model describes the natural forest processes in terms of the behaviour of individual trees, and thus the overall characteristics of the forest. The purpose of the model is to simulate the way that individual trees enter the stand (recruitment), grow and leave the stand (mortality).
We present in this paper a method of modeling and simulation of control system of a training organization based primarily on the method of balanced scorecards while drawing standard FD X 50-176 and the method GIMSI. The originality of our approach lies in the fact that we have combined these methods to provide a particularly suitable for our type of system users by providing a framework for future implementation defined in the accompanying each phase. We propose to users, in addition to the method itself, select items that reflect their mode among those that offer them.
Configuration management (CM) The process of identifying and documenting the characteristics of a facility’s structures, systems and components (including computer systems and software), and of ensuring that changes to these characteristics are properly incorporated into the facility documentation.
Another often-fond characteristic of project management problems is the focus on resource scheduling. The development of project plan in the form of network operations indicates the particular sequence and timing of activities required to complete the project in minimum time usually called “critical path schedule”. This plan show which operations can be delayed somewhat without delaying the overall project and, perhaps more importantly, it can show the pattern over time of the resource levels needed to achieve the indicated plan. Since the amounts of individual resource are typically limited in quantities, the question of most effective resource utilization is extreme importance. This focus of resource management is one which continues during project execution, and because of the typically large number of activities going on simultaneously the associated information flow and control problem is also complex. As a result, another characteristic of project planning/ scheduling activities is the utilization of computer-based system-both for developing the schedule operations in advance and for developing updated schedules and providing important information for management control during project execution.
Mesosystem is the level of management between the local unit leadership (microsystem) and the executive level leadership (macrosystem). The daily management system (DMS) operates at the mesosystem level and is based on the lean philosophy of making problems and improvements a visible and active part of daily work and culture. The clinical outcomes and satisfaction of patients and families are the primary measures of value, and every employee is empowered as a problem-solver and problem-preventer. All levels of leadership are focused on providing support and coaching at the frontlines as their primary role, with every problem viewed as an opportunity. The multidisciplinary team utilizes the DMS to design and refine the simplest, safest and most reliable process for patient care. The DMS makes the patient the focus of all improvement-mapping the patient experience from start to finish, identifying opportunities for continuous improvement, making changes in response to data and measuring success. Microsystem
The contributions of this study mainly lie in two dimensions. Firstly, the causal loop diagram that explains the interconnected relationships among major variables on workers’ waste behavior in reducing material waste not only enrich the research on construction waste management, but also help project stakeholder’s understanding about factors influencing their workers’ waste behavior. Secondly, the established model in stock-flow diagram serves as an experimental platform for dynamically simulating the effect of different management strategies for material waste reduction over time by improving workers’ waste behavior.
engineering management with highly specialised operational skills that are much sought after qualities worldwide. The programme content will be enriched by keeping industrial partner’s engagement active and offering sponsored projects. This will also help to support the students about the current opportunities and future trends in their relevant employment sector.
31]. In most cases the application domain is to be found in SMEs (Small- and Medium-sized enterprises). These organizations often do not model their processes, because that’s a time-consuming and expensive task. Furthermore, working with ad- hoc processes allows them to be very flexible, which is a prerequisite for a competitive process performance when working with varying business partners. Caramba  is one of the few collaboration systems actually supporting ad-hoc processes. This paper describes mining of ad-hoc processes by means of Caramba, TeamLog and EMiT . Caramba offers a transaction log and TeamLog converts it into a general format. Then EMiT mines the process and creates a process model in form of a Petri net. Additionally, other tools such as MinSoN  can mine other aspects such as the organizational context or the social network. Besides the knowledge about how a process works, it is important to understand the relations between the organizations employees, between groups or departments. Based on a social network (“a finite set or sets of actors and the relation or relations defined on them” ), social network analysis (SNA)  provides appropriate methods to get this kind of information. Because an organization is a social network, SNA, e.g., can be used to find out how much a person communicates with others, or if it has a central role within the organization. This kind of information might be important for an organizations management to initiate some improvements in the organizations competitiveness and provides valuable indicators for defining roles and responsibilities.
Wavelet analysis is a new time-frequency analysis method; this analysis method overcomes the defects of the Fourier transform in a single resolution, and can reflect the signal’s partial information in both time domain and frequency domain. Wavelet analysis adopts a lower time resolution for relatively stable signal, thus improving the frequency resolution; for the high-frequency signals it can use lower frequency resolution to determine the precise positioning of the time. Based on the characteristics of wavelet analysis, this paper designs the algorithm on the four steps of the image edge detection filtering, enhancement, detection and localization, uses Matlab simulation, and gets the threshold with the best effect is 0.009. By comparing its simulation results with the classical simulation results, this paper obtains that wavelet transform algorithm avoids the appearance of noise and false edge in the image edge detection, reflects the advantages of the algorithm in the application of this field, and provides theoretical basis for the future edge detection technology of the image.