Use these step-by-step guidelines to create effective simulation models:
Establish a firm foundation.
Ensure adequate data availability.
Secure a commitment from management.
Define a clear vision of what can be delivered.
Develop a project budget (time and capital).
Organize your resources.
Define project objectives and scope.
Determine modeling tasks.
Select a project team (internal or external).
Choose modeling tools.
Develop a project schedule.
Draw up a plan of action.
Gather relevant information.
Translate the data into a base model.
Analyze the model.
Validate the model.
Develop and evaluate alternatives.
Document recommendations.
