ABSTRACT
As for sensitivity analysis, the aim is to provide decision makers with an objective view of the consequences of their decisions, enabling them to balance the possible opportunities (upside) with the associated threats. Simulation can be used to support sensitivity and scenario analyses and help analyze a portfolio, programme or project and investigate the possible results from different courses of action. Scenario based simulations take an entire business or a significant part and model the possible outcomes under different sets of decisions and assumptions. The frequency one go around the control cycle depends on the level in a portfolio and different types of work required and should match the regular reporting calendars set organizationally. A report for a component of a business portfolio, like a programme or a project, should highlight progress towards the achievement of outcomes, whether the current work scope is likely to be completed to plan, the prevailing risks and issues and any decisions or direction required.
