Scenario Planning
Cards (7)
- scenario planningthe process of anticipating possible changes in a businesses situation and devising ways of dealing with them
- what is scenario planning commonly used for?
- natural disasters
- it systems failure
- loss of key staff
- risk mitigation plansidentify and assess risks and then prioritise and plan responses to those risks
- what are the two common risk mitigation plans?
- business continuity plans
- succession plans
- what are the stages to a business continuity plan
- risk assessment
- impact analysis
- develop strategy
- plan development
- testing and training
- maintain and review
- succession planninginvolves identifying and developing current employees who have the potential to move into key roles in the future
- what are the stages to succession planning
- identify potential successors
- develop a plan
- train and mentor
- communicate with stakeholders
- review and update plan