What approach is used to replicate real-world processes to evaluate outcomes under uncertainty?

The approach used to replicate real-world processes to evaluate outcomes under uncertainty is simulation in decision analysis. This method allows analysts and decision-makers to create a model that mimics the complexity and randomness of actual scenarios. By simulating various outcomes based on different input variables, stakeholders can assess the likelihood of various results and make more informed decisions based on the probabilities derived from these simulations.

This method is especially valuable in situations where uncertainty is a significant factor, providing a dynamic environment to test how changes in one or more variables affect overall results. It aids in understanding risks, potential benefits, and helps identify the most advantageous pathways or strategies within the context of uncertain conditions. This is distinct from the other options, which may focus on frameworks, financial projections, or operational aspects, but do not specifically emphasize the simulation of processes under uncertainty.