COVID-19: Integrated scenario planning has been saved
COVID-19: Integrated scenario planning
Making sense of complexity and uncertainty
Today’s unprecedented uncertainty and volatility has companies realizing that their normal planning processes, built for ‘business as usual’ scenarios, are underequipped to deal with the situation. It is imperative that companies refine their planning process to include integrated scenario planning capabilities to respond to the current crisis, accelerate recovery and prepare for the future.
The road to effective recovery
The scenario planning approach is essential to make sure that the business is able to plan and re-align efficiently and effectively, and is put in a position to recover as quickly as possible. Perfect is the enemy of good and the emphasis lies on speed and simplicity, as well as on the ability to work across functions in a pragmatic, yet structured approach to define external impacts and internal measures that are impacting top- and bottom-line.
These events are then combined into distinct, yet plausible outcomes of your business to create the different scenarios, which need to be monitored and re-adjusted whenever new information becomes available – getting the right data is key here (internal vs. external data). The integrated scenario planning approach will reveal a great deal of your organizational resilience and can be seen as a jumping off point for further discussions on the planning processes for your business in the next normal
All the actions you are taking to manage this crisis should not be a one-off, but the start of a journey towards more connected and intelligent planning capabilities.