From the course: Financial Analysis: Making Business Projections
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Developing worst-case scenarios - Microsoft Excel Tutorial
From the course: Financial Analysis: Making Business Projections
Developing worst-case scenarios
Once we have completed developing our realistic plans, our achievable plans, a good practice is to prepare a worst-case scenario. We are all very positive about our companies, our plans and our projects,of course. Why is there a benefit to preparing for the worst? For many reasons actually. The first one is for us to identify the key things that need to happen in our plan. Most of the time, without necessarily realzing it, our entire plan is dependent on a single event happening or an objective that needs to be met and without which all the rest can turn sour. To work on a worst-case scenario, you have to identify those big dependencies and just that will prepare you even better for making sure you meet them. Also, if those big dependencies simply slip by a few months, this will allow you to think in advance about the difficult decisions you will have to make and how you will find a way to turn the situation around. Sometimes, a slip in the realization of a key dependency of your plan…
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