Lone Star CEO Supports the 2016 Annual Probability Management Conference

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Conference presenters spoke to a group of senior decision-makers from organizations facing inherent uncertainty, in fields such as Energy, Finance, Healthcare, Security and Supply Chains.

Supporting Probability Management is important to being a good citizen in the industry segments we serve

Steve Roemerman, CEO of Lone Star Analysis, supported the annual Probability Management conference held at the Catamaran Resort Hotel and Spa in San Diego, CA in late January. Lone Star Analysis is internationally recognized for its unique decision analysis support, modeling, and simulation, and a trusted provider of advisory services addressing highly complex client issues for business and technology.

The conference presenters spoke to a group of senior decision-makers from organizations facing inherent uncertainty, in fields such as Energy, Finance, Healthcare, Security and Supply Chains. The topic of the conference was “Communicating Uncertainty Between Government and Industry.” Presentations included topics like, “New Developments in Probability Management.”

It was announced at the conference that Roemerman will serve as the Best Practices Chairman for Probability Management; he also serves on the SIPMath standards committee, and he led a panel discussion on Benefit Cost Best Practice.

“Supporting Probability Management is important to being a good citizen in the industry segments we serve,” said Steve Roemerman, Lone Star’s CEO. “It was great to see such a wide range of the Energy market, given current conditions. From Upstream E&P, to downstream distribution, the Energy Sector was the best represented economic segment attending the event.”

“We were also excited to see the ongoing evolution of the SIPMath™ specification for open interfaces between probabilistic models,” Roemerman noted.

The SIPMath standard is an open free standard managed and distributed by Probability Management as a part of its non-profit role. A version of the SIPMath specification in Java Script Object Notation (JSON) is slated to become the 4th version of the SIPMath data exchange version.

“The continued expansion of the standard will help support open interfaces across the Internet of Things (Iot), compatible with other emerging exchange standards,” Roemerman said. “Probability Management is supported by stakeholders in Health Care, Finance, and Public Policy, in addition to the Energy sector. All of these sectors need improved automation in the exchange of non-deterministic data. Web-enabled computing, including IoT, is increasingly dependent on dealing with risks and uncertainty. It is great to see the organization lead the way.”

About Probability Management
Probability Management, Inc. is a 501(c) (3) non-profit that is changing the way we think about uncertainty through standards, best practices and education. Its board of directors includes Nobel Laureate in Economics, Harry Markowitz. Its sponsors include Chevron Corporation, General Electric, Lockheed Martin, Wells Fargo Bank, Lone Star Analysis, , Computer Law LLC, Loring Ward, Hubbard Decision Research and the Foundation for Creative Dispute Resolution. Executive Director Sam L. Savage is author of The Flaw of Averages: Why we Underestimate Risk in the Face of Uncertainty, and is a Consulting Professor at Stanford University. To learn more visit ProbabilityManagement.org.

About Lone Star
Lone Star Analysis is a trusted provider of enhanced decision analysis, business modeling and simulation, and executive advisory support. Lone Star is committed to delivering improved operational and financial performance, as well as reduced cost and risk. We do this through accurate and actionable solutions to clients’ most critical strategic and tactical challenges. Headquartered in Dallas, Texas, Lone Star provides support to clients in the Military & Intelligence, Aerospace & Defense, Communications & Technology and Energy sectors.

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Matthew Bowers
Lone Star
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