The International System Dynamics Society, located at the University at Albany's Rockefeller College, awarded its 2009 Applications Award to Kenneth Cooper of Cooper Associates, Milford, New Hampshire, and Gregory Lee of Fluor Corporation, Aliso Viejo, California. The Applications Award recognizes the best application of system dynamics and is one of the preeminent awards in the field of dynamic simulation modeling, the application of computer programs or networks to simulate models of particular objects and systems.
The international panel of judges unanimously selected Cooper and Lee's "Managing the Dynamics of Projects and Changes at Fluor" as the best modeling application from nominees around the world.
Cooper and Lee designed, built, tested, and implemented a model-based system to aid project management at Fluor Corporation, one of the world's largest engineering and construction firms, with revenues of more than $20 billion in 2008. The US-based firm operates in major business sectors worldwide.
The system developed by Cooper and Lee rapidly tailors a model to simulate each engineering and construction project. Each model is then used to foresee future cost and schedule impacts of project changes, and most important, test ways to avoid negative impacts. Their "Change Impact Assessment" system has been used on more than 100 different projects, and hundreds of project managers and planners have been trained in its internal use. In addition to providing a better understanding of the project-wide effects of changes, the cost savings identified for Fluor and its clients amount to hundreds of millions of dollars.
System dynamics is a computer simulation methodology for studying and managing complex systems. The methodology is used internationally by leading corporations and universities. The method is critical to forecasting and mitigating project change impacts. Growth of a project's work scope, without schedule relief, often entails adding resources and working overtime. The ability of system dynamics to quantify these effects allows managers to foresee results and design strategies to mitigate or even avoid the impacts.
Friday, October 16, 2009
University of Albany's International System Dynamics Society Presents 2009 Applications Award To Cooper and Lee For Concept Helping Fluor Corporation
Posted by BRE at 6:33 AM