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Methodology
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Powersim's simulation models are based on the System Dynamics (SD) modeling paradigm,
a methodology developed at MIT in the 1960s to help introduce computer simulation
into management and social sciences. The SD methodology is an integrated multi-disciplinary
modeling approach for identifying, conceptualizing, representing, and analyzing
operational, tactical, as well as strategic business issues.
SD is an experimental approach to System Analysis and a way of understanding complex
systems and modifying or changing them in some way. It is also an approach for validating
and assessing the consequences of implementing analytical (prescriptive) models
or recommendations of a case study report. System Dynamics is both -
- a theory of structure in systems, and
- an approach to policy design and implementation.
System Dynamics comprises two concepts:
- Feedback Theory, which provides general guidelines for organizing system structure
- Computer Simulation, which provides a means to deduce the behavior arising from
a particular system structure
System Dynamics involves the construction of graphical and mathematical computer-based
models, with detailed descriptions, that tells us how the conditions at one point
in time lead to subsequent conditions at later points in time. The constructed model
can then be simulated and its behavior observed over time. A system dynamics simulation
model integrates and runs all variables of the system in a dynamic way. The model
structure contains the objects, relationships, processes and decisions of the system,
which it uses to generate the system's behavior. Such simulation models can be used
beneficially at all levels of decision-making in an organization.
In short, SD is about studying complex and dynamic systems, systems that change
over time, and finding the 'why' (causes) and 'how' (patterns) of a system's dynamic
behavior (changes) over time.
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Creating a custom model
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In instances where we need to create a simulation model from scratch our simulation
experts employ the following three-phased approach in collaboration with our clients
to build models that are relevant to the client's unique needs.
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These phases are designed, based on our PACE™ Framework, to support the conceptualization, creation,
authentication delivery of simulation models either for use in strategy communication
and management training or execution of strategy. |
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