Return on modeling effort
Return on modelling effort (ROME) is the benefit resulting from a (supplementary) effort to create and / or improve a model. Purpose. In engineering, modelling always serves a particular goal. For example, the lightning protection of aircraft can be modelled as an electrical circuit, in order to predict whether the protection will still work in 30 years, given the ageing of its electrical components. More and more effort can be put in making this model predict reality perfectly. However, this perfection comes at a price: researchers invest time and money in improving the model. As a Return  on investment (ROI), the ROME is a metric for the use of further modelling. It may therefore serve as a 'stopping criterion'. Typically, researchers will pull towards continuing modelling, while management will pull towards stopping modelling. Being explicit about the cost and benefits of continued modeling may help to make informed decisions that are understood by both sides. Continuous communication between model developers and model users increases the probability of models being actually put to profit. Domains. ROME is a , which can be evaluated wherever modelling is performed with a quantifiable goal. Examples include: Research. The initiative "Models at Work