Building a Strategy for Implementing Modelling and Simulation to Maximise Business Benefit

Andy Richardson BSc MSc MBA C.Eng F.I.Mech.E
Founder and Director PHRONESIM Ltd

Abstract

From Automobiles to Spacecraft to Heart Valves to Consumer Goods, Modelling and Simulation (M&S) is enabling organisations to innovate faster, optimise product performance, reduce development times and costs, and ensure product quality. In fact, many of today’s products could not be delivered without M&S.

But what does it take to build an effective and efficient M&S capability? In fact, there are seven essential elements that must be in place and in balance to achieve this.

Hence, it is critical that organisations understand their goals, requirements and status regarding these essential elements. They can then build a strategy to ensure they can maximise the effectiveness and efficiency of their M&S capability.

This presentation overviews the essential elements, and describes a framework to measure an organisations M&S maturity, and outlines the steps to build a strategy to achieve their goals.