A Spreadsheet Scenario Analysis Technique That Integrates with Optimization and Simulation
Scenario analysis is a widely used technique, and business students should be proficient in running scenarios through a spreadsheet model. We propose 10 desirable properties for a scenario analysis technique, and show that the Microsoft Excel Scenario Manager tool satisfies only one of them. We provide a tutorial for a better technique that can be programmed into an existing spreadsheet in a matter of minutes. We show how to integrate the technique with the Excel Solver to allow for rapid optimization of multiple scenarios and with the Crystal Ball add-in for Monte Carlo simulation to enable simulation of multiple scenarios. Our undergraduate and MBA students are able to learn the technique with little difficulty.
Volume (Year): 10 (2009)
Issue (Month): 1 (September)
|Contact details of provider:|| Postal: 7240 Parkway Drive, Suite 300, Hanover, MD 21076 USA|
Web page: http://www.informs.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:inm:orited:v:10:y:2009:i:1:p:18-33. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mirko Janc)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.