204 Monte Carlo Simulation - One Day

The Process Analytics Using Monte Carlo Simulation class provides attendees with first-hand experience improving a business process using workflow model simulation techniques. This class follows and builds upon the concepts and techniques learned in the 101 Business Process Analysis class, which is a prerequisite. Simulation is taught utilizing the functions and features of the Metastorm ProVision® simulators, which focus on Monte Carlo simulation with an overview of discrete event simulation.

Simulation Concepts
Business process simulation is presented given the functionality and approach supported by the Monte Carlo simulator in Metastorm ProVision. Simulation concepts and parameters that are covered and utilized include:

• Direct Costs
• Indirect Costs
• Resource Costs
• In-Queue Time
• Work Delay Time
• Work Time
• Out-Queue Time
• Transit Time
• Decision Point Discriminators

Model Current Process
The current business process is first modeled and simulated to confirm the model reflects current experience.

Analyze Future Growth
The anticipated growth of the current business process is projected into the future and simulated to determine the ability of the current process to absorb the expanded capacity. This provides a baseline for comparison to an improved process, because improvements take time to implement.

Improve Process
The current business process is improved and simulated for a future state. The results can be used to determine various parameters such as staffing levels and future costs. The future process is then compared with the current process to quantify the improvements.

Who Should Attend?

• Managers responsible for improving their business or business processes.
• Business analysts responsible for developing a future model of the business and quantifying improvements.