This Chapter has introduced sensitivity analysis, with a focus on:
In fact, there are some related topics which are used in more advanced or specialised contexts. These include:
The topic of scenario modelling is a direct extension of sensitivity analysis, and so is covered in Level II courses. The other topics within the above list are treated in other later courses.
In fact, it is worth noting that – from the perspective of creating models which reflect the real-life situation – the topics of uncertainty, risk and optimisation could be considered as “basic”, or at least “fundamental”. For example, in real-life situations: