COVID-19 Response: Learn how to use scenario planning to design resilience

As COVID-19 continues to devastate the global economy, companies must respond with urgency, not only to recover from its economic and fiscal implications but to prepare for anticipated aftershocks.

Managing an unimagined crisis

COVID-19 has so far paralyzed supply chains, suspended market activities and delivered new trends with the potential to have a lasting, transformative impact on businesses across the private and public sectors.

A crisis of this magnitude is novel—truly unprecedented. Therefore, there is no step-by-step manual with a list of precedents to follow. Now is the time for companies to reimagine resilience and reshape their business frameworks, from operational to financial, to adapt to fast-evolving conditions and anticipated aftershocks with agility and ease.

Though the sudden onset of COVID-19 may have instigated costly, temporary measures, companies can fast-track their way to recovery and resilience. With scenario planning, companies can assess their financial health, generate alternative futures and stress-test scenarios against their business to build a robust resilience plan capable of withstanding anticipated aftershocks.

 

What is scenario planning? 

Scenario planning is a complementary tool to traditional forecasting methods used to address uncertainty and fortify enterprise resilience. Through it, organizations can ask profound questions that force them to consider the unexpected and examine anticipated COVID-19 trends from a multitude of perspectives to attain clarity. It leads companies away from planning towards a singular point forecast of the future. It helps to create a situational framework to apply expert human thought, utilizing quantitative and qualitative analysis of potential event impacts. This process enables organizations to determine the best actions capable of enduring through a wide range of possible futures.

 

Think Forward, Act Today

At WSP, our multi-disciplinary technical and advisory teams are ready to guide you through the entire scenario planning process, and help you fast-track your way to recovery and redesign your resilience plan.

Our extensive range of expertise allows us to facilitate and advise how the volatility of the market can impact your business. We can envision and test complex scenarios against your business to help develop safeguard measures, which will reduce your vulnerability and help achieve desired outcomes.

At WSP, we can simplify and expedite the process and help you make sound evidence-based decisions to ensure your organization is future-ready.

 

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National Market Lead – Advisory Services, Power
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Program Manager Future Ready
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