Study Guide for pages 210-268

CHAP1'ER 9: MONTE CARLO SIMULATION continued

Notes on Implementation ...........................................210

3 Types of Models: Physical, Analog, Symbolic
        This course is almost entirely devoted to Symbolic Models.
Advantages of simulation in operations management decision-making?
   Time can be compressed
    Simulations do not disrupt ongoing activities of the real system
    Simulations can be used to analyze transient (infrequent) conditions
    Developing a simulation model can lead to better understanding of the real system
However, simulations do not optimize the goal of interest to the decision maker,
and the decision maker must always retain full responsibility for decisions.

Normally we run each instance of a simulation with different random variables . 
We would want to run multiple trials of a simulation, each trial using the same set of random numbers, when  we wish to compare the outcome measures for several different sets of exogenous decision variable


The variability of a solution to changes in the model and input data is a very important part of the analysis of the results. 
This type of analysis is called  Sensitivity Analysis.


Summary ....................................................... .212

This section serves two purposes: it reviews the parts of the chapter we studied and gives an overview of the parts we skipped,

Key Terms, Self-Test Exercises, Problems, cases................213

Read these as a review.  "How" is important, but only after you have thoroughly mastered "Why."

Pay special attention to problem 18; be sure to come to class knowing what the question is.


CHAPTER 11: IMPLEMENTATION

Skim this chapter

Introduction ............................................ .........242

What, After All, is a Model? .........................................243

The Separation of Players Curse .....................................245

    Nobody has complete knowledge of what's going on ina big project

The Curse of Scope Creep ...........................................248

   Project gets weighed down with more and more features until it collapses

Other Frequent Sources of Implementation Failure .....................249

Summary ........................................................251

Sources of Modeling Failure
a.    The model itself becomes the scapegoat for a failed project
b.    Scope creep causing unplanned work and deadlines to be missed
c.    Political issues involving decision-making rights
d.    Separation of players curse