Scenarios

This page covers the following location(s) in NaviPlan:

Results - Analyze Goals - Scenarios

Planning Objectives :: Procedures

Planning Objectives

ClosedWhat is a What-if scenario? How is it different from a plan?
  • In most plans, the clients' current resources and strategies do not meet their goals. Using NaviPlan, you can create What-if scenarios that contain additional assumptions and strategies to help develop an optimal solution for your clients.
    • Even in plans where a goal is adequately funded (or overfunded), What-if scenarios can be used to find the optimal solution.
  • A plan represents the clients' situation as it is. A What-if scenario represents a projection of the clients' plan into the future given the additional assumptions and strategies you have defined.
ClosedWhat is the Scenario Manager?
  • NaviPlan's Scenario Manager tool allows you to create and compare multiple scenarios side-by-side without needing to create duplicate plans.
  • In the Scenario Manager, you can recommend additional strategies and enter or modify existing data just as you can in NaviPlan without modifying the clients' current plan.
  • Once you have created an appropriate scenario that can be applied to your clients' plan, you can mark it as the Recommended Plan.
ClosedWhat types of What-if scenarios are there? What is their significance?
  • There are three types of What-if scenarios:
    • Current Plan scenario: This scenario represents your clients' plan with the strategies and assumptions that are in place today. It is uneditable and is included in the Scenario Manager tool to allow you to compare your other scenarios to the clients' current one.
    • Recommended Plan scenario: This scenario represents the clients' plan with the strategies and assumptions that you recommend to your clients.
      Note: By default, NaviPlan creates a recommended plan that includes all data from the current plan including assumptions, net worth, cash flow, strategies, insurance, and goal details, as well as the investment objective for each goal and suggested asset mixes.
    • Alternative Plan scenario(s): Alternative scenarios are optional scenarios that can be presented to clients as a comparison to the Recommended Plan scenario. Use alternative scenarios when you want to compare more than one What-if scenario.
ClosedWhat is the significance of the color indicators for each goal?
Indicator Description
Green Goal coverage is 90% or better.
Yellow Goal coverage is 65% to 89%
Red Goal coverage is less than or equal to 64%
ClosedHow do scenarios differ from Level 1 to Level 2 Plans?
  • In Level 1 plans, you can analyze fairly simple What-if scenarios using the Scenario Manager. In a Level 2 plan, more complex What-if scenarios can be analyzed.
  • If you are working in a Level 1 plan and cannot find the scenario tools you need, consider the merits of promoting your plan to Level 2.

Procedures

ClosedHow do I edit a scenario?
  1. To edit a scenario, select Edit Recommended Plan or Edit Alternative Plan as applicable.
  2. You can now make changes to the selected scenario using the Scenario Manager tool.
    See the Scenario Manager Help page for more information.
    Note: The current plan scenario cannot be edited in the Scenario Manager.
ClosedHow do I create an alternative scenario?
  1. Select Create Alternative.
  2. Enter a name for the new scenario under Alternative Name.
  3. Select the scenario on which you want to base the alternative scenario from the Copy Existing Scenario menu.
  4. When you are satisfied with these options, click OK.
ClosedHow do I indicate which scenarios should be included in client reports?
  1. Select Include Alternatives in Reports.
  2. Select the alternative scenarios you want to include from the Alternative A and Alternative B menus.
  3. When you are satisfied with these options, click OK.
ClosedHow do I mark a scenario as recommended?
  • Select Recommend for the alternative scenario, this will swap the current recommended plan scenario with the selected alternative plan scenario.
ClosedHow do I calculate a scenario's goal coverage percentage?
  • Select Calculate All for the selected scenario to calculate the goal percentage for all goals in that scenario.
ClosedIf I create more than two alternative scenarios, how can I choose which ones will be displayed on this page?
  • The Scenarios page will show up to two alternative scenarios at a time. However, you can still create more scenarios than are shown on the page.
  • To view a scenario you have created but does not currently appear on the Scenarios page, select that scenario's name from the Choose an alternative menu at the top of the selected alternative plan scenario. NaviPlan will now swap the position of the two scenarios.



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