RALEIGH, N.C. - A new study by FMI, the largest provider of management consulting and investment banking to the engineering and construction industry, examines the benefits of scenario planning to prepare for the uncertain future. The study, entitled "Visionaries: How today's leaders are using future contingencies to plan strategically" uses real cases studies to demonstrate how firms can proactively prepare for the unknown, minimizing the effects of changing events.
With so many companies impacted by the recent recession, preparing for future uncertainties has become ever more crucial. Firms that emphasize anticipation of and adaptability to changing circumstances will not only survive the changes the design and construction industry is undergoing, but thrive on those shifts. Scenario planning-the practice of developing strategic plans for possible future outcomes-is a critical discipline that helps companies remain prepared and nimble in the context of both internal and external change.
"Not knowing what the world was going to be like," said Mike Yoeman, COO, Perteet Engineering "the idea of having vetted these options against more than one future gives us some confidence that we can adapt what we're doing as we move forward."
From the perspective of companies who have successfully adopted the practice, FMI's research discusses some of the different methods leading design and construction firms have used to explore scenario planning and provides a brief guide to the process.
To learn more about this report or to schedule an interview with the author, please contact Sarah Vizard at 919.785.9221 or firstname.lastname@example.org.