A "What If" Simulation Using a Computer Helps To

question 52

Multiple Choice

A "what if" simulation using a computer helps to:

• A) reduce the risk associated with a particular investment.
• B) determine the effects of changes in certain variables.
• C) increase the accuracy of the inputs.
• D) none of these answer options are true.

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Definitions:

Tactical Planning

Short-term, detailed planning that focuses on achieving specific goals or objectives within a limited timeframe.

Mitigation Planning

A strategic approach to lessen the severity and impact of potential risks and disasters on a project or organization.

Strategic Planning

The process of defining an organization’s direction and making decisions on allocating its resources to pursue this strategy.

Functional Planning

pertains to the process of developing detailed strategies and actions for specific functional areas within an organization, such as marketing or operations.