Create a sensitivity Result Set

Sensitivity Result Sets are used to build tornado and spider charts against groups of projects. To create a sensitivity Result Set, you have three options:

1. In the Result Sets Explorer, click on on the toolbar and select Sensitivity Mode.
2. In the Result Sets Explorer, right-click on any Result Set or folder and select New > Sensitivity Mode.
3. In the Hierarchy Explorer, right-click on the node which you want to calculate, and select New Result Set > Sensitivity Mode. In this case all projects and consolidations under this node will be automatically selected for calculation.

When you create a Result Set, the Result Set setup screen is displayed.

1. In the Result Set Name field, enter the name of the new Result Set. The maximum length is 50 characters. Names must begin with an alphabetical or numerical character and cannot contain = \ ; : * <> / @ ? | " +.
2. The Location field contains the list of folders in the Result Set Explorer. Select the folder where your Result Set will be. If the folder you need does not exist, create it by clicking on the New Folder button.
3. In the Select Calculation Hierarchy field, select the hierarchy which contains projects you want to calculate. The hierarchy will be displayed in the box below the field.
4. The drop-down list under the Select Calculation Hierarchy field contains filters which you can use to limit the number of displayed projects. For information on how to set up filters, see Set up and manage hierarchy filters.
5. Check boxes next to the names of projects you want to calculate. You can expand and collapse consolidation nodes by right-clicking on them.
6. On the Calculation Options tab, select the price and currency scenarios from the lists at the top.
7. In the Partners section, select which groups or partners will be calculated:
   • Use partners selected in the project: To use this option, you need to set up partners in each projects in advance, making sure that they are selected for calculation. For more information, see Add working interest shares for partners and groups.
   • Calculate Gross only: If you select this option, individual partners' shares will not be calculated and you will be able to report only on gross values.
   • Select partners for calculation: This option opens a list of all available partners and groups of partners. If the list is too long, you can filter it by typing names in the text field.
8. In the Project Weightings section you can specify how weightings will be applied to individual project scenarios. By default, these settings are taken from projects settings and applied to each project individually. Use the Inherit project weightings from parent node boxes and the Use weightings set in projects boxes to set these settings in the Result Set. For more information, see Set up sensitivities and weightings.
9. In the Ring Fence section, you can turn ringfencing on or off if you have set it up for selected consolidation nodes. Turning ringfencing on will produce more accurate results but will slow down the calculation. For more information, see Incremental economics and ringfencing.
10. In the Calculation Location section you can specify whether the Result Set should be calculated on your computer or on the calculation server. To find out whether your company is using a server, contact your administrator. For more information, see Calculate Result Sets on the server.
11. Switch to the Sensitivities tab which represents the Result Set Run. Sensitivity Result Sets can have only one run.

12. In the Project Sensitivities section, choose variable categories and individual variables that will be sensitized by clicking on the Add button. Specify sensitivities in the % Sensitivities field. You can set up as many sensitivities as you need, separating them with commas; for example, 90,100,120 means 90%, 100% and 120% of the original value.

    You can combine variables and categories into groups by typing names in the Group Name column. For example, if you have the Capex-Development and Capex-Exploration categories and want to see the total capex, type Capex in the Group Name cells in the corresponding rows.

13. If you want to apply sensitivities to some projects but not others, click on the Select Projects button and uncheck boxes next to projects which should not be sensitized.
14. In the Variable Settings section, select variables on which the impact will be analyzed.
15. You can reuse the settings by saving them as templates. To save a template, set up the Run and click on the Save Template link at the top of the screen. To load a saved template, use the Open Template link.
16. Once the Run has been set up, you can postpone calculation by clicking on the Save Settings and Exit button, or start it by clicking Calculate. When the calculation has been finished, the results will be stored in the database.

Note: It should take around 1 to 2 seconds to calculate one project; however, the actual time will depend on the combination of calculation settings: for example, if there are ringfences on multiple levels, calculation will take longer.

17. Once the Result Set has been calculated, a confirmation message will be displayed. If it has been calculated successfully, the Run's icon in the Result Sets Explorer will change to . If there are errors or warnings, the icon will change to or ; in this case you will be offered to view the calculation log.
18. In the Result Sets Explorer, double-click on the Run to open the Sensitivity Viewer tool and view the charts (see Sensitivity Viewer for Result Sets).

Note: The spider chart will be displayed if the Result Set contains sensitivities; if only weightings are used, the spider chart will remain blank.

You can specify which users and groups can open and change a Result Set. Select the Result Set in the Result Sets Explorer and click on or right-click and select Permissions. The Result Set Permissions window will be opened (for more information, see Item Permissions).