Scenario Planning

Is a discipline for rediscovering the original entrepreneurial power of creative foresight in contexts of accelerated change, greater complexity, and genuine uncertainty.

Steps in Scenario Planning

  • Uncovering the decision
  • Gathering information
  • Identification of the driving forces
  • Uncover the predetermined elements of scenario
  • Single out the most critical uncertainties
  • Composing the scenarios
  • Analyzing the possible effects and implications of the scenarios
  • Selecting the best indicators of the scenarios

Project Management

It is the discipline of planning, securing and managing resources to bring about the successful completion of specific project goals and objectives.

Steps in Project Management

  • Planning or initiation
  • Designing phase/Organizing
  • Execution/Implementing
  • Controlling and monitoring
  • Closeout/project completion

Key Similarities between Scenario Planning and Project Management

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  1. Both are techniques used for events in the future.
  2. Both involve careful assessment of possible effects of various factors in given situations
  3. Both seek to minimize any future negative effects and optimize careful use of resources

Key Differences between Scenario Planning and Project Management

  1. Scenario planning: anticipates external forces affecting a given situation
  2. Project management: involves an actual event that is to be carried out by an organization.
  3. Scenario planning: used mostly to target future negative impacts and curb them.
  4. Project management deals with carrying projects in a sequential mannerism so as to accomplish them.

Project Management Essay Summary

Project management is the most suitable method in my workplace as mostly we have to deal with plans that are to be done within a given timeline together with clear set-out objectives.

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