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What is What-If Sensitivity Analysis
What-If Analysis (WFA, W-I) is a simple analytical technique used in decision-making and risk management. Its principle is based on the search for the potential impacts of selected situations. In essence, it is a structured brainstorming, where within the spontaneous discussion are seeked.

What-If Analysis, the abbreviation WFA or W-I is used. It is a simple analytical technique used in decision making and risk management. Its principle is based on the search for the potential impacts of selected situations. In essence, it is a structured brainstorming, where within the spontaneous discussion, are sought:

What if analysis is usually attended by a group of experienced people who asks questions or expresses the possible impacts of questions using “what if …”. What-if analysis isn’t internally structured such as some other analytical techniques like HAZOP or FMEA. What-if analysis, on the other hand, is very flexible and can be adapted to the specific purpose. Its objective is to identify problems or dangerous conditions in the process.

Steps of What-If analysis:

  • Defining areas of interest
  • Defining target interests of the problems (e.g. financial risks, environmental issues, safety at work, etc.)
  • Generating questions (if)
  • Generating answers (what happens)
  • Generating measures on situations (decisions, actions, etc.)

For what to use What-If Analysis in practice?

It is a systematic, but not strictly structured analytical technique, which using a team of experts (experienced people) generates and looks for potential problems, risks and measures to rectify them. Its use is quite versatile and its output is a description of the potential problems and risks, including recommendations on how to prevent them.

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Last update: 03.08.2015

Comments

Diana David over 1 year

I don't know how precisely the calculation functions however I do know there is a site that effectively put the delicate investigation into the training. Pay Someone To Write My Essay Go to this site: OIGetIt and the red news speaks to negative, the green news speaks to positive and the blue news speaks to nonpartisan news.

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moses antony about 1 month

Sensitivity analysis is the best decision making and risk management handling software so far. You can also use it very easily. MS Word printing problems Most of the project management handling projects and people who are involved in it will help you throughout the task.

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