Introduction to SIMRAND: Simulation of research and development project

SIMRAND: SIMulation of Research ANd Development Projects is a methodology developed to aid the engineering and management decision process in the selection of the optimal set of systems or tasks to be funded on a research and development project. A project may have a set of systems or tasks under consideration for which the total cost exceeds the allocated budget. Other factors such as personnel and facilities may also enter as constraints. Thus the project's management must select, from among the complete set of systems or tasks under consideration, a partial set that satisfies all project constraints. The SIMRAND methodology uses analytical techniques and probability theory, decision analysis of management science, and computer simulation, in the selection of this optimal partial set. The SIMRAND methodology is truly a management tool. It initially specifies the information that must be generated by the engineers, thus providing information for the management direction of the engineers, and it ranks the alternatives according to the preferences of the decision makers.