GoldSim Releases New Module for Risk and Reliability Analysis
Issaquah, WA (USA) - September 19, 2005– The GoldSim Technology Group, a leading provider of advanced simulation software, today announced that it has released a new module for risk and reliability analysis. The development of the module marked the successful completion of a NASA-funded research project to demonstrate the suitability of its GoldSim simulation software for evaluating the risk and reliability of future NASA missions.
The company's flagship software product, GoldSim, is used to create computer models that simulate the performance of complex systems in business, engineering and science. In general, the purpose of such models is to simulate the future behavior of the system, and determine what can be done to improve its performance. These models are used to gain a diagnostic understanding of the system, ask "what if" questions about it, and evaluate alternative designs, policies, and plans. This NASA research project focused on development of a new module for the software (the Reliability Module), that added features to the software to facilitate simulation of space missions, and applied the tool to several representative NASA missions.
Currently, most NASA studies of mission risk and reliability use a methodology known as fault tree analysis, which can be difficult to implement for complex systems that change over time. Instead of fault trees, the GoldSim methodology actually simulates the behavior of the mission components over the full duration of the mission, explicitly representing how the various components evolve over time, and the probabilities involved. The analysis is intensive, and computes the possible ways that the mission may fail, along with their probabilities.
"This approach offers a different way for NASA to evaluate mission risk and reliability", said Ian Miller, President of GoldSim Technology Group. "We also think it has a lot of potential in other fields where risk and reliability are important, areas such as the defense, automotive, electronics, and environmental fields. It isn't just a matter of doing risk calculations; it's important to really understand the sources of risk or unreliability in order to be able to design optimal solutions. That's what our GoldSim software is all about."
More information regarding the Reliability Module is available here.
In addition, a fully functional evaluation version of the software can be downloaded from the company's website (www.goldsim.com).
About the GoldSim Technology Group
The GoldSim Technology Group is a privately held software company dedicated to delivering software and services to help organizations understand complex systems and make better decisions. GoldSim software is used by over 100 organizations worldwide to support risk management, strategic planning, and policy analysis in many industries, including waste management, mining, health care, energy, manufacturing and aerospace.