The Benefits of Scenario Planning in Today’s Construction Landscape

Today’s leaders are using future contingencies to plan strategically, according to a new study by FMI, the largest provider of management consulting and investment banking to the engineering and construction industry. The study examines the benefits of scenario planning to prepare for the uncertain future.

Entitled “Visionaries: How today’s leaders are using future contingencies to plan strategically,” the study uses real case 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. Download the full report here: “Visionaries: How today’s leaders are using future contingencies to plan strategically”