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How to identify risks, opportunities through scenario planning Logo cgma

  Ken Tysiac |   Free |   AICPA |   25 May 2015 |

Scenario planning can help companies identify risks and opportunities to drive more effective business decisions, explains forecasting expert Steve Player, CPA, CGMA.

Topics covered:
  • Management accounting: Technical: Business planning: Planning, forecasting & budgeting, Intermediate

6 Comments/Reflections

Tanya Cruz

Tanya Cruz Oct 2016

I am about to embark on some revenue predictions for a new section of our business and will factor all of this points into the forecast when I put it together.
Elisa Taylor

Elisa Taylor Jan 2016

Develop early warning for upside and downside indicators. Reflect on the counteractions of possible situation developing.

Katie Cunningham

Katie Cunningham Dec 2015

Interesting concept which schools need to consider using more. Currently have limited scenario planning (2/3) whereas we could potentially benefit from more. All part of driving the school to be more strategic as funding reduces.

Phillippa Collins

Phillippa Collins Dec 2015

I currently do business cases and only normally look at scenario planning for worse case. Looking at the best case is worth vonsidering and brings it's own risks and watch outs. 7 scenarios is probably too much for what I am doing but is worth considering in larger projects.

Kalpen Patel

Kalpen Patel Jul 2015

I have learnt to do Scenario Planning in a different way to the traditional way of just using a few scenarios to plan. 

This artical has allowed me to gain insight on how to develop different scenarios in order to cover what actions need to be taken. This creates a list of things that might be useful if those scenarios actually play out in real life. This will cause the not only me but the company to have foresight in almost any situation.