Exploring Variables and Optimization
Sensitivity Analysis to Vary Constants Across Simulation Runs
RENO's Sensitivity Analysis feature makes it easy to vary one or two variables across analyses/simulation runs.
For example, if you are analyzing potential investment strategies, you may wish to vary the number of years that you will be investing and/or the percentage of your income that will be invested to see how different inputs will affect the final results. Likewise, you may wish to generate reliability or availability results for a range of times in order to examine the equipment’s behavior over time. Potential applications are limited only by your imagination!
Simply enter the starting, ending and increment values for the variable(s) and then RENO automatically varies the inputs and performs multiple runs under each set of conditions. Now the 3D plot for two-way sensitivity analysis has been completely upgraded in Version 10!
The Multiple Analyses feature takes the sensitivity analysis capability a step further by allowing you to configure the software to automatically vary the specified variable(s) in order to determine the value that minimizes or maximizes a specified result.
For example, you could use this feature to automatically determine the optimum amount of inventory to maximize profits or the optimum preventive maintenance (PM) interval to minimize costs. The results of each analysis can be displayed in the plot sheet, with the optimum value marked on the plot.