Return on modeling effort


Return on modelling effort is the benefit resulting from a effort to create and / or improve a model.

Purpose

In engineering, modelling always serves a particular goal. For example, the lightning protection of aircraft can be modelled as an electrical circuit, in order to predict whether the protection will still work in 30 years, given the ageing of its electrical components. More and more effort can be put in making this model predict reality perfectly. However, this perfection comes at a price: researchers invest time and money in improving the model. As a Return on investment, the ROME is a metric for the use of further modelling. It may therefore serve as a 'stopping criterion'.
Typically, researchers will pull towards continuing modelling, while management will pull towards stopping modelling. Being explicit about the cost and benefits of continued modeling may help to make informed decisions that are understood by both sides.

Domains

ROME is a :Category:metrics|metric, which can be evaluated wherever modelling is performed with a business goal. Examples include: