looking to the future.jpg

REINVENTING THE WAY WE WORK

Empowering experts. Breaking silos. Gaining x-ray oversight.

Why You Need What-If Analysis & Scenario Planning

When it comes to the workplace, employees often feel disconnected from one another and struggle with overflowing emails, tight deadlines, and overbooked meetings. How can a company transform its business environment from a chaotic to a collaborative workplace? The role of project, portfolio, and program managers is to bridge the gap between strategy and operations through the right project and work management processes, bringing order and consistency to the workplace.

One of the primary responsibilities of the project management office (PMOs) is prioritizing work tasks for teams and executives who often consider everything as a top priority. Regardless of the industry or department, everyone has to take on tasks of varying urgency and learn to prioritize them appropriately. Prioritization requires assessment of both the short-term and long-term. It is all about determining the different options at hand and considering the risks associated with each option in order to make the most logical and profitable decision.

What-if analysis has become a key element of resource management as it is even more relevant in today’s disruptive world. Company operations have become increasingly complex in recent decades due to digital transformation and the difficulty to manage resulting change. Scenario planning allows for more flexibility than conventional strategic planning, so that companies can better manage this uncertainty. In fact, PMOs can perform a what-if analysis and determine the potential outcome of a project without having to face the risk of carrying them out. 

According to our partner, Prosymmetry, scenario planning can strengthen your company’s resource and work management capabilities in the following ways:

  1. Precise project predictions: run numerous scenarios and make data-driven decisions.
  2. Solve resource over-allocation: you can prepare for fluctuations and seasonality by running hundreds of different scenarios in a risk-free environment.
  3. Better decisions are made: reporting is automated and decision-makers have all the information they need in one single interface. 

Scenario planning is not a crystal ball that will show you what the future holds. However, when faced with chaos in the enterprise, it is an effective tool that can empower teams to manage uncertainties and make better data-driven decisions.

SHARE THIS STORY | |

Receive best practices straight to your inbox.

Search

Recent Posts