How it is Done
After organizing a high-caliber team, Scenario Planning can begin. Since it is still part of Project Management, following these steps assures the success of this critical exercise:
1. Determine the scope and time frame.
This is very critical at the onset of Scenario Planning. After all, the team has to contain the endless possibilities that may be put forward during the discussion proper.
2. Develop a common understanding of the pressing issues involved.
Though Scenario Planning is a firing range of ideas, one has to start somewhere. And this can be achieved by marking on a baseline from which dialogue can begin.
3. Identify the elements that also serve as driving forces, whether potential or otherwise.
After agreeing on the fundamentals, it is time to open the floor to pinpoint the opportunities and downfalls of certain circumstances surrounding a business.
4. Move the discussion to environmental variables, for instance the macro-environment of a country (e.g. politics, economy, etc.).
One does not exist in a vacuum, and that includes your business. So it is vital to be abreast with current events, whether it may have a direct relation to operations or not.
5. Map out a ratings system to compare and analyze the variables earlier identified.
This is where the meat of Scenario Planning can be found. Plot the possibilities and draw up several plans on how to handle them if ever they materialize.