That's unfamiliar jargon to me.
MC analysis simply assigns a different random adder
/ multiplier to things that are known to vary significantly,
and you reap the simulation result for each put case
so that you can perform statistical stuff on the data
pile in the end.
You could of course also perform more of a sensitivity
analysis on a single element, single PVTM case and
observe a single device's impairment / enhancement
effect directly. This is often more informative than
rolled up statistics, except when you have no idea
which devices are most likely to matter to "whatever".