Tag Archives: William Waite

Calculating Return on Investment for U.S. Department of Defense Modeling and Simulation

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Authors: Ivar Oswalt, Tim Cooley, William Waite, Elliot Waite, Steve “Flash” Gordon, Richard Severinghaus, Jerry Feinberg, and Gary Lightner

As budgets decrease, it becomes increasingly important to determine the most effective ways to invest in modeling and simulation (M&S). This article discusses an approach to comparing different M&S investment opportunities using a return on investment (ROI)-like measure. The authors describe methods to evaluate “benefit” (i.e., increased readiness, more effective training, etc.) received from an investment and then use those metrics in a decision analysis framework to evaluate each M&S expenditure. Finally, they conclude by discussing the importance of viewing M&S investments from a Department of Defense (DoD) Enterprise view, evaluating investment over multiple years, measuring well-structured metrics, and using those metrics in a systematic way to produce an ROI-like result that DoD can use to evaluate and prioritize M&S investments.

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