A Simulation is a ​model of the set of ​events that is used to assess the current or predict the future performance of the business processes to improve using the mathematical, statistical, and other analytical methods. The Process Simulation is used for the design development, analysis, and optimisation of technical processes. (Refer to the Thermal Simulation; Monte Carlo Simulation (or Probability Simulation))

Related Definitions in the Project: The Engineering; Process Engineering; Project Management