Effective Scenario Planning to Become Future Ready Now Workshop
4 Hour(s) - CPE Credit(s)
The continuing uncertainty caused by COVID-19 has led many accountants to realize that traditional budgeting fails to meet management’s business needs. Many have tried to turn to scenario planning to help deal with uncertainty and fast changing circumstances. But scenario planning only helps if implemented correctly. This hands-on workshop shows you how to effectively implement scenario planning in your organization.
Attendees will review the basic seven step implementation process, explore what upside and downside scenarios should be considered and discuss how to prioritize which should be planned first. They will also examine the role of leading indicators and how to develop early warning systems to help anticipate needed actions. The hands-on activities will help identify your needed action plans to prepare for rapid response as scenarios develop, and how to find and close any gaps in your game plans. Finally, the group will discuss how to integrate scenario planning into your overall planning process to ensure a higher return on your planning activities including learning how to “become future ready.”
- Determine how to utilize forward-looking tools such as driver-based rolling forecasts, league tables for relative performance measures, and dynamic resource allocations
- Recall the process of developing rolling forecasts
- List the five attributes of diamond-level forecasting and evaluate over a dozen design decisions that are key to structuring effective rolling forecasts