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Performance models exist that reliably describe the execution time and efficiency of discrete-event simulations executed in a synchronous iterative fashion. These performance models incorporate the effects of processor heterogeneity, other processor loads due to shared computational resources and application workload imbalance. We extend these models to include the effects of an optimistic technique known as speculative computation. This includes modeling the effects of predictive optimism, which is a technique for improving the accuracy of speculative assumptions.