We present complete collisional-radiative modelling results for the soft x-ray emission lines of Fe¹⁶⁺ in the 15 Å–17 Å range. These lines have been the subject of much controversy in the astrophysical and laboratory plasma community. Radiative transition rates are generated from fully relativistic atomic structure calculations. Electron-impact excitation cross sections are determined using a fully relativistic R-matrix method employing 139 coupled atomic levels through n = 5. We find that, in all cases, using a simple ratio of the collisional rate coefficient times a radiative branching factor is not sufficient to model the widely used diagnostic line ratios. One has to include the effects of collisional-radiative cascades in a population model to achieve accurate line ratios. Our line ratio results agree well with several previous calculations and reasonably well with tokamak experimental measurements, assuming a Maxwellian electron-energy distribution. Our modelling results for four EBIT line ratios, assuming a narrow Gaussian electron-energy distribution, are in generally poor agreement with all four NIST measurements but are in better agreement with the two LLNL measurements. These results suggest the need for an investigation of the theoretical polarization calculations that are required to interpret the EBIT line ratio measurements.