Use these step-by-step guidelines to create effective simulation models:

  1. 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).

  2. 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.

  3. 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.