Tag Archives: Predictive Analytics

Teaching Systems Analysis and Modeling

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ProModel Guest Blogger: Robert Loomis, Ph.D. Adjunct Professor, Florida Institute of Technology; NASA (Retired)

Loomis

Robert Loomis, Ph.D.

I teach a number of courses for the Florida Institute of Technology, one of which (Systems Analysis and Modeling) is a 17 week graduate level survey course in Systems Analysis, various types of modeling and how the modeling fits into the SA process.  This course is designed to be “a mile wide and an inch deep” in that it introduces several topics that could, by themselves, be the subject of dedicated courses.

One of the challenges in teaching a course such as this (particularly in an MBA environment) is to find tools that are effective and demonstrate the concepts well without becoming bogged down in the mechanics of the tools employed.  It also helps if the students find them engaging to use.  I ended up writing some of my own applications for certain deterministic models in order to meet those requirements and to emphasize the concepts that I felt were important.

I chose ProModel to use as a simulation package for a number of reasons. It has:

  • A graphical User Interface that is attractive, easy to use, and (at least at the level my class uses) easy to learn.
  • Outstanding documentation.
  • An excellent Professor Package.
  • An excellent Student Package. It is modestly-priced and fully-featured (limited only by the size of the model that can be created).
  • A Workstation Simulator (added by ProModel this year) that is extremely useful for instructors and students.

I have also found the ProModel staff to be responsive, courteous, and willing to help with any issues that may arise. I believe ProModel recognizes that offering an excellent value and support in the teaching environment will pay long-term dividends as the students move into their professional environment, and I applaud ProModel for their insight.

About Robert Loomis

Robert Loomis received a BSEE from Michigan State University, and an MS and Ph.D. in Industrial Engineering from Texas A&M University.  For the last 30 years he has worked for NASA and the United Space Alliance (USA) in the space and aerospace environment as a safety and reliability expert. His NASA positons included Chairman of the Kennedy Space Center (KSC) Safety Engineering Review Panel, Chairman of the KSC Ground Risk Review Panel, Manager of Data Systems at NASA Headquarters, Deputy Director of Safety at Dryden Flight Research Center (DFRC), and Head of the Independent Technical Authority at DFRC. He held numerous positions with USA, culminating in Corporate Director of Mission Assurance.  Dr. Loomis’ recognitions include the NASA QASAR Award, the NASA Exceptional Public Service Medal the Astronauts Silver Snoopy Award; the IEEE Millennium Medal; IEEE Reliability Society Lifetime Achievement Award; and Leadership and Teamwork Awards from the United Space Alliance.  He is a Senior Member of the IEEE and a Fellow of the Society of Reliability Engineers. He is an adjunct professor at Florida Tech; and most importantly, a Full-Time Grandfather to the three nicest, smartest, and best-looking grandchildren on the planet.

Simulation Ensures Patient Safety During Hospital Move

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Northwest Community Hospital is an acute care hospital in Arlington Heights Illinois, right outside of Chicago.  The staff at NCH had the very complex and delicate task of arranging and accomplishing the move of 150 patients over to a newly constructed facility on campus.  This is a welcome but difficult situation that many healthcare organizations find themselves in today as technology improvements and rising patient populations demand growth.

See how NCH achieved a flawless transition through predictive analytics and simulation:

Power of Predictive Analytics for Healthcare System Improvement and Patient Flow

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Hospitals are currently under intense pressure to simultaneously improve the effectiveness and efficiency of healthcare delivery in an environment where operating costs are being reduced, downsizing and consolidation is the norm, and cost for care is increasing while revenue is decreasing.  At the same time the systemic effects of peak census and varying demand on patient LOS are creating capacity issues and unacceptable patient wait times…leading to a major decline in patient satisfaction.

The amount of proposals to enhance a hospitals quality care are as numerous as the healthcare professionals dedicated to the cause.  What hospitals need however is the ability to quickly and accurately evaluate the impact of those various operational proposals and to experiment with system behavior without disrupting the actual system – and ProModel’s simulation technology is allowing them to do just that.

The predictive analytic capability of ProModel simulation will allow healthcare professionals to test assumptions and answer those patient flow “what if” questions in a matter of minutes and days, not weeks and months.  Simply put, it’s providing a decision support system to assist healthcare leaders in making critical decisions quickly with a higher degree of accuracy and confidence.

Simulation will also help healthcare staff quickly identify room availability and recognize high risk patient flow bottlenecks before extreme problems occur.  This invaluable knowledge will then lead to reductions in patient wait times and LOS, avoid unnecessary re-admissions and costly expansions, and most importantly – increase the overall quality of service and patient satisfaction.

FREE ProModel Webinar: Predictive vs. Prescriptive Analytics

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Join ProModel’s CTO, Dan Hickman, and Product Manager, Kevin Jacobson (KJ), on Wednesday November 5, 2014 – 2:00 PM EST for an informative webinar on predictive vs. prescriptive analytics. 

With over 15 years in the industry, Dan has an uncanny understanding of how important both types of analyses are to the success of your business. KJ, with ProModel for over 11 years, manages the Project and Portfolio Simulation product development group. He works closely with our clients on the development of advanced PPM (Project Portfolio Management) predictive and prescriptive analytic tools. He has the hands-on experience to best illustrate how the tool works and how it can help you with your predictive and prescriptive analytic needs.

Together they will show you how ProModel’s Enterprise Portfolio Simulator with Portfolio Scheduler provides the benefits prescriptive analysis can bring to resource capacity planning and project selection. Gain an understanding of the difference between applying predictive and prescriptive analytics to your PPM data, with specific examples focusing on scenario experimentation and portfolio optimization.  KJ will demo some of the newer features of EPS that provide logical recipes for modeling  and show how these tools can help you represent your unique PPM business rules.  The new business rules capabilities of EPS provide portfolio simulation like never before.

CLICK BELOW TO REGISTER FOR THIS WEBINAR NOW!

https://www150.livemeeting.com/lrs/8002083257/Registration.aspx?pageName=k09m7ldp55z3t048&FromPublicUrl=1

 

 

REAL PORTFOLIO MANAGEMENT IS MORE IMPORTANT THAN EVER!

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One study of the performance of mega projects over the past decade in the oil and gas industry reveals a 78 percent rate of failure. Large projects in the process industries have much poorer outcomes. More megaprojects than ever are being developed and each one brings its own complexity.

  • Projects close to the margin must be dropped
  • Resource constraints must be part of the project selection process

The disadvantages to these very large projects are huge, but of course, so are the rewards. Therefore these projects must be scrutinized and evaluated very carefully. Need to make an accurate risk/reward determination for each “mega project” in your portfolio? Learn how one petroleum pipeline organization did it with Portfolio Simulation.

Check out Portfolio Scheduler:

http://portfoliostud.io/#

Project/Portfolio Risk Evaluation:

http://www.promodel.com/pdf/ML-ProjectReview-PipelineRiskEvaluation.pdf