What role do performance metrics play in simulation?

Performance metrics are fundamental in simulation because they offer crucial insights into decision-making. They quantify various aspects of the simulation output, allowing analysts and decision-makers to evaluate how well a model performs against predefined objectives or requirements. By analyzing these metrics, stakeholders can understand the potential outcomes of different strategies, assess the effectiveness of a model, and compare various scenarios. This information is essential for making informed decisions, as it highlights which options may lead to desirable results and which might not perform as expected under simulated conditions.

The other options, while relevant to aspects of simulation, do not capture the primary importance of performance metrics as clearly. They may document processes, summarize risks, or even play a role in design, but their most critical function lies in providing actionable insights that directly inform decision-making.