Paper Title
Approach to the Creation of a Simulation Management Model based on an Example of Selected Electric Power System

Due to ever rising demands for electricity, electric power systems are being extended which impacts on their complexity, hence the management of such systems represents a real challenge. An alternative scheme and unpredicted situations that could influence these systems make its management a multidimensional mathematic problem, which includes not only technical but also organizational, regulatory, ecologic and economic aspects. Predicting of such states is especially important for the efficacy of management of such systems. This paper, representing the result of starting researches on the development of the doctoral thesis at the university of Montenegro, defines an approach to the creation of a model for one such system with the goal to ensure a more efficient system for its management. This model is based on a mirroring of causal and effect relations inside the system as well as its surrounding, integrating all the aspects (technical –technological, ecological, regulatory, economic) of the system’s operation. Keywords - Simulation Model, Modeling, Processes.