Final answer:
Simulations involve creating models or virtual representations of real-world situations or processes to test different scenarios and understand potential outcomes.
Step-by-step explanation:
The best description of a type of planning in which multiple scenarios are developed to test possible future outcomes is simulations.
Simulations involve creating models or virtual representations of real-world situations or processes. These models can be used to explore different scenarios and understand the potential outcomes of different decisions or events. By manipulating various input variables, simulations allow us to see how different factors might affect the system being studied.
For example, in the context of project management, simulations could be used to test different project schedules, resource allocations, or risk management strategies to identify the optimal approach. Simulations can help decision-makers make more informed choices by providing insights into the potential consequences of different actions.