Browse Definitions :
Definition

scenario planning

Contributor(s): Ivy Wigmore

Scenario planning is the practice of creating varying courses of action for a business to implement based on potential events and situations, known as scenarios.

Potential business-related scenarios include changes to the market, problems with the supply chain, product releases from competitors, personnel changes and environmental events -- among an almost infinite number of other possibilities. 

Having planning in place allows the business to respond to conditions more quickly and effectively. The practice allows a business to be more prepared for events that could cause risk or, alternatively, create opportunities that might be missed if the scenarios are not foreseen. 

Tools such as what if scenario analysis (WISA) automate some of the processes involved to facilitate planning. WISA is a process that allows the user to see how changing specific inputs, such as costs, human resources and supply availability, affects outcomes such as the total cost or delivery date of a project. 

See a video introduction to scenario analysis:

This was last updated in March 2015

Continue Reading About scenario planning

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • compliance audit

    A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines.

  • regulatory compliance

    Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business...

  • Whistleblower Protection Act

    The Whistleblower Protection Act of 1989 is a law that protects federal government employees in the United States from ...

SearchSecurity

  • brute force attack

    Brute force (also known as brute force cracking) is a trial and error method used by application programs to decode encrypted ...

  • spyware

    Spyware is software that is installed on a computing device without the user's knowledge. Spyware can be difficult to detect; ...

  • ATM black box attack

    An ATM black box attack, also referred to as jackpotting, is a type of banking-system crime in which the perpetrators bore holes ...

SearchHealthIT

SearchDisasterRecovery

  • business continuity and disaster recovery (BCDR)

    Business continuity and disaster recovery (BCDR) are closely related practices that describe an organization's preparation for ...

  • warm site

    A warm site is a type of facility an organization uses to recover its technology infrastructure when its primary data center goes...

  • disaster recovery (DR) test

    A disaster recovery test (DR test) is the examination of each step in a disaster recovery plan as outlined in an organization's ...

SearchStorage

  • disk array

    A disk array, also called a storage array, is a data storage system used for block-based storage, file-based storage or object ...

  • enterprise storage

    Enterprise storage is a centralized repository for business information that provides common data management, protection and data...

  • optical storage

    Optical storage is any storage type in which data is written and read with a laser. Typically, data is written to optical media, ...

Close