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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What is Process Simulation?
What is Process Simulation?  

What is Process Simulation?



 
 

Process Simulation is a performance planning method that uses testing and modelling as the major ways for imitating actual or probable conditions of a process. This method aims to find a cause of process failure and forecast future effects of assumed circumstances or factors on the process.

The greatest advantage of using simulation in process performance planning is that this method lets create process experimentations without exposure to risk. Meanwhile, the method requires making gross simplifications of the reality; therefore it is only as good as underlying assumptions are.

Process simulation aims to:

  • Reach a deeper understanding of an observed process
  • Test hypotheses and theories regarding process performance
  • Predict undesired process behaviors
  • Design various improvement scenarios
  • Discover new ways of process functioning

Modelling and testing are two techniques that help simulate processes. Modelling lets design a model that considers actual or probable conditions of a process and creates a forecast of the process’s performance. Through testing it is possible to test the model and figure out if the process can function effectively and reach desired performance under assumed circumstances or factors. Both techniques are also used in process analysis and improvement.

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