> ## Documentation Index
> Fetch the complete documentation index at: https://docs.meerietechnology.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> The terms used across the docs.

| Term | Meaning |
| - | - |
| **Option** | One of the choices. The current approach is the zero baseline |
| **Estimate** | A number you enter. A **result** is a number the model calculates |
| **Likely range** | Low and high values with about a 1 in 10 chance outside each end (P10 to P90) |
| **P10 / P50 / P90** | The values with a 10%, 50% and 90% chance of the true value being below them |
| **Influence diagram** | A cause-and-effect map of the decision |
| **Distribution** | The shape of your uncertainty: which values are more or less likely |
| **Monte Carlo simulation** | Playing out many random but plausible futures to see the spread of outcomes |
| **Simulated future** | One draw of the whole model |
| **Run** | One saved simulation |
| **Stale run** | A run made before the latest model change |
| **Net value (NPV)** | Benefits minus costs, in today's money. Cash effect is reported separately |
| **Discount rate** | How much less money is worth when it arrives later |
| **Win rule** | What an option must achieve to be called a winner |
| **Risk appetite** | How much shortfall you accept, and how often |
| **Certainty equivalent** | The guaranteed amount that feels as good as taking a gamble |
| **Tornado** | A ranking of estimates by how much they swing the result |
| **Break-even** | How wrong an estimate must be before another option wins |
| **EVPI** | Value of perfect information: the ceiling on what learning more is worth |
| **Constraint** | A rule an option must or should satisfy |
| **Proposal** | A change suggested by research or Dave, which waits for the owner to accept it |


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