Overriding Variables
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This article explains how to override variables in Model Reef scenarios.
You will learn:
How variable overrides work when each scenario is a separate model.
Which parts of a variable you typically change by scenario.
How to keep overrides traceable and easy to review.
Because each scenario is its own model, overriding variables is simply editing them in that scenario model.
When you duplicate a model to create a scenario:
Every variable is copied into the new model.
The copy in Scenario A is independent from the copy in Scenario B.
Editing a variable in one scenario does not affect any other scenario.
This makes variable overrides straightforward and safe.
Typical differences between scenario models include:
Revenue volumes or growth rates.
Prices, discounts or take up rates.
Staff hiring, headcount and salary levels.
Opex efficiency or cost out assumptions.
Capex timings and project scope.
Tax rate or incentive assumptions.
Any variable field can be changed in a scenario model, including timing, formula and type if needed.
To override a variable for a particular scenario:
Open the scenario model (for example Client - FY25 - Upside).
Open the Variable Editor for the variable you want to override.
Adjust drivers, presets, formulas or timing as needed.
Save the changes.
The scenario model recalculates its P&L, Balance Sheet, Cashflow, Cash Waterfall and valuation based on the override.
To keep overrides easy to understand later:
Use notes on the variable to explain scenario specific logic.
Tag key variables with labels such as Scenario override, Upside change or Downside change.
Keep naming and category structures consistent across scenarios so matching variables are easy to recognise.
This is essential when many variables differ between scenarios.
Try to avoid overriding variables where:
The input should remain the same across all scenarios (for example statutory tax rules in some jurisdictions).
The impact is minor compared to major scenario levers.
Fewer, well targeted overrides make it clearer what really drives the difference between scenarios.
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