Multiple
Scenarios
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Convenience of multiple scenarios
Excel is a powerful tool that is often under-utilized as
people are not aware of the numerous functions that the package
has to offer. Many companies use Excel spreadsheets for financial
and auditing purposes and with those kind of spreadsheets
often the user is required to make many tables with only one
variable that has changed. This results in multiple scenarios
that are often hand-compiled which is very time-consuming
but with Excel's Scenario Manager this no longer has to take
hours.
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| Uses of the multiple scenarios manager:
The scenario manager is the perfect tool to enter variable
figures in your what-if model and watch the effect on dependent
values. It is also use for more complicated models than what
data tables can manage, often having up to 32 variables.
- create multiple scenarios for a what-if model, each
scenario can have its own set of variables
- what-if model can be distributed to teams so that
members can add their own scenarios, theses multiple
scenarios can then be merged onto a single worksheet
- examine the relationship between multiple scenarios
using the Scenario Summary
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Applying the multiple scenarios manager
The Scenarios Manager for multiple scenarios from Excel has a certain
process to be followed, here is a simple outline:
Defining scenarios:
- from the tools menu, click Scenarios
- a Scenario Manager dialogue box will appear; click Add
- type a name for your scenario
- in the changing cells field, enter in the cell references for
the cells that are going to be varied
- click OK, one of multiple scenarios has now been created
- a Scenario value dialogue box will appear and here you will
enter in the values that you would like to change
- to compile a new scenario, click Add
- to save your scenario, click save at the top of the workbook
Viewing your scenarios:
- select the Scenario Manager from the tools menu again
- select the one of the multiple scenarios you have compiled
- click show, Excel will replace the values in your current worksheet
with those as specified in the scenario
- the dialogue box will still be visible, click close or press
ESC to close the scenario and return your worksheet to its original
statements
- Modifying and deleting scenarios:
- any of the multiple scenarios can be edited using the Scenario
Manager, simply select edit from the dialogue box and change the
necessary criteria
- to delete one of the scenarios simply go into the Scenario
Manager select the scenario and click delete
Creating summaries of the multiple scenarios
- this enables you to keep track of the multiple scenarios that
you have made
- in the scenario management dialogue box select the scenario
summary options and then make sure scenario summary is selected
- in the result cells field enter the cells that you would like
to have in your report, separate the cells with commas
- click OK
- Excel will now generate your scenario summary
For optimum results from this tool a training course in the usage
of Excel will be beneficial to any company. Such a course can be
completed at Miricle Solutions, a company that is an expert in the
field of Excel, Accounting and Auditing. The staff are trained to
train you to use the numerous functions that Excel has, including
the multiple scenario manager to optimize your Excel usage and allow
you to get the most out of the package.
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