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