Lone Star CEO, Steve Roemerman to Chair Modeling Best Practices Benchmarking Project with Probability Management.org
Lone Star Analysis, internationally recognized for its unique decision analysis support, modeling, and simulation, and a trusted provider of advisory services addressing highly complex client is pleased to announce that its CEO, Steve Roemerman has been tapped to be the Chair of the Probability Management Best Practices Committee (MBP2).
This effort is surveying a broad range of modeling practices and will share insights among professionals who might not otherwise have the opportunity to gain insight from outside their own communities. Several leading groups have either already participated, or have agreed to participate. These include academic, corporate, and government organizations.
Steve Roemerman, Lone Star CEO said, “I am honored to be chosen to lead this important initiative. Since Lone Star’s MS&A offerings cut across a wide range of disciplines, it makes sense for us to lead the MBP2 project. Although we are just getting started we already see some surprising results. It is clear best practices are not shared widely across the modeling and simulation community. To date we’ve seen some organizations who are probably performing at “best in class” in some areas, but don’t know they are at that level. Another surprise have been how eager impressive organizations are to be part of MBP2. “
Modeling, simulation and analysis (MS&A) supports a wide range of economic, academic and governmental efforts. Different practitioner communities have agreed on MS&A practices within their own disciplines. But there is little interaction among communities. As a result, best practices in one MS&A community may not be familiar to others.
A benchmarking template was developed, consulting a wide range of modeling disciplines. Practitioners consulted had experience in the following fields: Big Data Analytics and Modeling, Seismic Data Processing and Analysis, Operations Research, Management Science, Physical Modeling for Scientific Research, Physical Modeling for Design Engineering and Performance Prediction (e.g., Aerospace Flight Simulation, Energetics ), Communication Network Simulation, Health Care, Financial Services, Signal Processing Modeling, Production Process Simulation, Human Performance and Behavioral Modeling, Game Theory Based Simulation of Competitions, Microeconomic Simulation, Macroeconomic Simulation, Training Simulators, Logistics and Supply Chain Simulation, Conflict & Combat Simulation, Policy and Governance Analysis and Modeling, and other areas.
From these practitioners, and from a review of literature on general MS&A practices, a set of benchmarking topics were defined. These topics are being explored across MS&A communities of practice in several disciplines.
For those who are interested and would like to register to participate in this project, please click on this link https://www.surveymonkey.com/r/MBP2_Interest_Registration
MBP2 will continue through the spring of 2016. The first public discussion is planned for the Probability Management conference in January 26-27, 2016. Information about the conference is available at http://probabilitymanagement.org/ MBP2 results will be published after benchmarking is completed in 2016.
About Probability Management
Probability Management, Inc. is a 501(c) (3) non-profit that is changing the way we think about uncertainty through standards, best practices and education. Its board of directors includes Nobel Laureate in Economics, Harry Markowitz. Its sponsors include Chevron Corporation, General Electric, Lockheed Martin, Wells Fargo Bank, Lone Star Analysis, Ortec Consulting, Computer Law LLC, and the Foundation for Creative Dispute Resolution. Executive Director Sam L. Savage is author of The Flaw of Averages: Why we Underestimate Risk in the Face of Uncertainty, and is a Consulting Professor at Stanford University. To learn more visit ProbabilityManagement.org.
About Lone Star Analysis
Lone Star Analysis enables customers to make insightful decisions faster than their competitors. We are a predictive guide bridging the gap between data and action. Prescient insights support confident decisions for customers in Oil & Gas, Transportation & Logistics, Industrial Products & Services, Aerospace & Defense, and the Public Sector.
Lone Star delivers fast time to value supporting customers planning and on-going management needs. Utilizing our TruNavigator® software platform, Lone Star brings proven modeling tools and analysis that improve customers top line, by winning more business, and improve the bottom line, by quickly enabling operational efficiency, cost reduction, and performance improvement. Our trusted AnalyticsOSSM software solutions support our customers’ real-time predictive analytics needs when continuous operational performance optimization, cost minimization, safety improvement, and risk reduction are important.
Headquartered in Dallas, Texas, Lone Star is found on the web at http://www.Lone-Star.com
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