The diffusion process describes the adoption of a new product by the market. This article reviews the main ideas of the model and presents the derivation of key formulas with a discussion of the results.
CMM is used mainly as a benchmarking tool, with the original idea of process improvement left behind in the wake of enthusiasm. This article seeks to rediscover the philosophy of CMM and help organisations achieve real improvements across multiple disciplines.
The Monte Carlo method is a numerical approach for solving problems using random sampling. This article discusses the fundamental elements of the method and provides guidance for implementation using standard spreadsheet software.