What is scenario modeling in SAP PPM-PFM - Portfolio Management?

SAP Term: scenario modeling

• Component: PPM-PFM

• Component Name: Portfolio Management

• Description: A process for simulating the impact of changes across multiple portfolio items. Scenario modeling enables you to select portfolio items for inclusion in the scenario, and vary elements such as budget, time, and resources. You can view the results in graphs and tables. Since these changes are simulated, they do not affect existing portfolio items.

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• Key Concepts: 
  Scenario modeling is a feature of SAP Portfolio and Project Management (PPM-PFM) that allows users to create and compare different scenarios for their projects. This helps users to identify the best course of action for their project, as well as to anticipate potential risks and opportunities. Scenario modeling allows users to create multiple versions of a project plan, each with different assumptions and parameters. The user can then compare the different scenarios to determine which one is the most effective.
  
  How to use it: 
  To use scenario modeling in SAP PPM-PFM, users must first create a project plan. This plan should include all of the tasks, resources, and other elements that are necessary for the project. Once the plan is created, users can then create multiple versions of the plan with different assumptions and parameters. These scenarios can then be compared to determine which one is the most effective.
  
  Tips & Tricks: 
  When creating scenarios for a project, it is important to consider all of the potential risks and opportunities that may arise. This will help ensure that all possible outcomes are taken into account when making decisions about the project. Additionally, it is important to keep track of all changes made to each scenario so that they can be easily compared later on.
  
  Related Information: 
  SAP PPM-PFM also offers other features such as resource management, cost management, and risk management that can be used in conjunction with scenario modeling to ensure that projects are managed effectively. Additionally, SAP offers a variety of training courses and resources that can help users learn more about how to use scenario modeling in their projects.