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Most Effective ROI Models for Simulation Applications: Answers from Research

NAFEMS Americas and Digital Engineering (DE) teamed up (once again) to present CAASE, the (now Virtual) Conference on Advancing Analysis & Simulation in Engineering, on June 16-18, 2020!

CAASE20 brought together the leading visionaries, developers, and practitioners of CAE-related technologies in an open forum, unlike any other, to share experiences, discuss relevant trends, discover common themes, and explore future issues, including:
-What is the future for engineering analysis and simulation?
-Where will it lead us in the next decade?
-How can designers and engineers realize its full potential?
What are the business, technological, and human enablers that will take past successful developments to new levels in the next ten years?



Resource Abstract

Today, simulation is being applied in new and innovative ways in product development and beyond. It is a key part of verification and validation. It offers promise for engineering-led design decisions. It can drive the selection of system architectures. It is the key to running accurate digital twins at the edge of IoT. Simulation has found new life inside and outside engineering.



Making such efforts real, however, is no easy task. Champions of simulation initiatives must convince financial stakeholders that these investments are worth the company's hard earned cash. ROI models based on soft costs are often squashed due to the difficulty of monetizing the benefits. Calculations based on hard costs are far more attractive. Yet, getting buy-in from other leaders is challenging.



For these reasons and more, Lifecycle Insights is conducting a survey-based research study called the Engineering Executive's Strategic Agenda. This effort will measure what initiatives engineering organizations are pursuing, what benefits they are realizing, and the importance of key technology enablers. During this presentation, Lifecycle Insights' Chief Analyst, Chad Jackson, will present a simulation-specific view of these findings. These findings will offer difficult-to-gain insight into how engineering executives view simulation as an enabler, their relative contribution to success, and what measurable goals they intend to achieve.



Lifecycle Insights' mission is to help executives realize value from tech-led initiatives without disruption. We digitally publish research and thought leadership guidance, enabling better investment and deployment decisions.



As Chief Analyst, Chad Jackson leads Lifecycle Insights’ research and thought leadership programs, attends and speaks at industry events, and reviews emerging technology solutions. As CEO, Chad defines Lifecycle Insights’ vision and change initiatives. Chad’s twenty-five-year career has focused on improving executives’ ability to reap value from technology-led initiatives. He has surveyed thousands of manufacturers, produced hundreds of research and thought leadership publications, and presented dozens of times domestically and internationally. He imparts an influential, independent, and insightful voice on the industry’s transition to smart, connected products.

Document Details

ReferenceC_Jun_20_Americas_275
AuthorJackson. C
LanguageEnglish
TypePresentation Recording
Date 16th June 2020
OrganisationLifecycle Insights
RegionAmericas

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