De Wet Reitz requires a model to simulate the amount of property conveyance tasks that will be generated at ideal conditions, from the joint venture of a real estate company. The amount of conveyance tasks are determined by a “series” predetermined by De Wet Reitz. These conveyance tasks will generate income; thus resources will be needed to process the conveyance tasks because at present the resources are not optimal and also not sufficient.
The simulation of the amount of tasks will be performed by a Monte Carlo simulation that will also display different scenarios. The inputs of the Monte Carlo simulation will be able to be changed as to generate different scenarios.
This joint venture project requires investment from other capital sources; therefore a need exists for a model to estimate the break-even point and the capital needed before the break-even point is achieved. In addition there is a need for the optimal amount of resources to optimise the workload and maximise the income relative to the cost. This can be accomplished through a cash flow projection method and calculations completed from the projections. The projections is also required by De Wet Reitz.
The model will be built in Java. Java is able to accommodate these simulation needs together with the solutions, for building the simulation model. The model is completed in Java and will accommodate the average income per branch from De Wet Reitz.
The model will simulate, optimise and visualise the cash flow of De Wet Reitz and through this method De Wet Reitz will be able to determine whether the scenarios are feasible. The result of the simulation will be measured against De Wet Reitz expectations, if the models’ output shows less than expected management will be able to change inputs and scenarios until the desired effect is achieved, for verification, and what factors should be changed and managed to achieve the desired result.
This model may also be edited for future implementation into other De Wet Reitz projects. The model will ultimately simulate the profit and display it as a projection. De Wet Reitz will then be able to identify the number of resources that should be allocated at a specific time, the amount of capital needed for the project and if the project is feasible within a 60 month period.
Thesis (B Eng. (Industrial and Systems Engineering))--University of Pretoria, 2012.