The Economics of Modeling and Simulation track will focus on developing coherent understanding of how the modeling and simulation community and its proponents can use the language and processes of economics to articulate the costs and benefits of M&S and thereby justify the existence of M&S as part of the overall business practice of an organization. The rationale for this approach is that M&S competes with other activities in any organization for resources and that M&S practitioners must be cognizant of how to articulate their reasons for existence in the context of the overall organization.

Session 1: Collegial Initiative on the Economics of Modeling and Simulation–A Status Report
Chair: Bill Waite, AEgis Technologies Group

Session 2: Economic Implications of Standards for M&S -Panel
Chair: Peggy Gravitz, IITRI

Session 3: Economics of M&S in DoD Services

Session 4: Economic Considerations in Managing Simulation Assets
Chair: Jackie Steele

Simulation Conceptual Model Issues: Impact on Simulation Development Costs and V&V Costs
Dale Pace, The Johns Hopkins University Applied Physics Laboratory, USA

Economics of M&S
Michael P. Bailey

Determining the Value of Simulation

Managing Modeling and Simulation as a Single Program
W.A. Watkins, Computer Science Corp., USA
Carol Booth, Dynamics Research Corp., USA