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This works. Been there, done that - and I keep doing it.

Some volatilities are "known" to be small, and there is little won by elaborately analysing these. Others are more significant, and for these the applied volatility should be based on facts/analytics.

The "tornado" diagram of the simulation may disclose some uncertainties are more (or less) affecting the results and may lead to other assumptions and risks to be analysed before the final decision is made.

The beauty of it all. The simulations will be able to provide a measure of how likely it is that targets are met - which cannot be found in any other way - but which is highly appreciated by executives.