How Financial Planning & Analysis Must Harness Scenario Planning to Aid Decision Making

This whitepaper discusses how FP&A teams can harness the power of scenario-based planning to guide business leaders towards making informed decisions that ensure optimal performance during difficult times.

It is the responsibility of the FP&A team to guide business leaders towards making informed decisions that ensure optimal performance during difficult times. In doing so, they must harness the power of scenario-based planning. Below are the critical factors and steps in this process that we will discuss:

• Identifying the key business drivers and critical uncertainties.
• Generating multiple scenarios through decision tree thinking.
• Being mindful of possible cognitive errors and be receptive to the external environment.
• Harnessing the technological tools available to enable real-time planning solutions.