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Contingency Scenario Planning
Businesses and governments alike employ foresight methodologies such as scenario planning to better anticipate future challenges, enabling them to make informed decisions in a rapidly changing world. While traditional scenario planning works on a horizon of two to five years or more, COVID-19 saw the global requirement for contingency scenario planning (CSP) – compression of the scenario planning timeframe into weeks or even days initiated by contingent or emergency events. Firms face challenges anticipating all possible disruptions in the future, selecting which to best plan for in a resource constrained environment, and responding to these future disruptions when they come to pass in ever-compounding volumes.
Read more: https://cmr.berkeley.edu/2024/01/contingency-scenario-planning-using-generative-ai/
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