. Guidelines for term project: Your term project should be an application of SIMIO in order to improve the current state of a real life system. In your project, you should address all the steps of a typical simulation study. The project should be done in groups to encourage teamwork. In each project team, there should be minimum 3, maximum 5 students. The project report should begin with an executive summary no longer than 250 words, and the whole report should be minumum 10, maximum 15 pages using double-spaced, 12-point font. All details should be given in an appendix in the form of exhibits, tables etc