SUGGESTED PROBLEM SOLVING OUTLINE (STOCK-FLOW PROBLEMS)

SUGGESTED PROBLEM SOLVING OUTLINE (STOCK-FLOW PROBLEMS)
Introduction to Risk Analysis, Fall 2001

I. Develop initial models

II. Analyze and develop models

Analyze for further understanding and future use

Solve for quantities of interest

Make useful simplifications by collecting terms, substituting, etc.

III. Add details

Plug in numbers

Check units of measurement

Include adjustment factors for different units

IV. Crunch numbers

V. Analyze and revise

Analyze for further understanding and future use

Check assumptions made

If appropriate, alter model (simplify or complexify as appropriate)

VI. Check and revise

Has the correct question been answered?

Does the answer make sense? (units, order of magnitude)

Check individual steps

VII. Organize and communicate

Could someone else readily follow your method (including reasoning)?

Could they easily identify inputs and assumptions?