Patent ID: 8244572
Filing Date: 2012-08-14
Classification: G06K,G06Q

Abstract:
1. A method for determining a projected time for completion of one or more milestones associated with a security interest enforcement action in a specified jurisdiction, the method comprising: storing in a computer readable medium data representing the one or more milestones associated with the security interest enforcement action in the specified jurisdiction; projecting time durations for one or more fixed-frequency events associated with completing one or more of the milestones, the fixed-frequency events being events that will occur in a predetermined manner during completion of the one or more milestones; projecting time durations for one or more random-frequency events associated with completing one or more of the milestones, the random-frequency events being events that may or may not occur during completion of the one or more milestones; and determining, using one or more computer processors in communication with the computer readable medium, a projected completion time for the one or more milestones by applying a stochastic model that accounts for the occurrence of the one or more fixed-frequency events and the one or more random-frequency events associated with the one or more milestones, wherein applying the stochastic model to the fixed-frequency and random-frequency events comprises applying the mathematical formula: wherein