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Planning Tools and Techniques

Planning Tools and Techniques. 1. Forecasting: Assumptions about what will happen in future Qualitative forecasting uses expert opinions Quantitative forecasting uses mathematical and statistical analysis. Planning Tools and Techniques. 2. Contingency Planning:

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Planning Tools and Techniques

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  1. Planning Tools and Techniques 1. Forecasting: Assumptions about what will happen in future • Qualitative forecasting uses expert opinions • Quantitative forecasting uses mathematical and statistical analysis

  2. Planning Tools and Techniques 2. Contingency Planning: • Identifying alternative courses of action to meet the needs of changing circumstances “Misled and Uninformed” • Contain trigger points

  3. Planning Tools and Techniques 3. Scenario Planning: • A long-term version of contingency planning • Increases preparation for future shocks

  4. Planning Tools and Techniques • Scenario planning Example: Nike Shox

  5. Planning Tools and Techniques 4. Benchmarking: Comparing to the best competitor and adopting their best practices Example:

  6. Planning Tools and Techniques 5. Participation and Involvement • Planning process to include people who will be affected by the plans and/or will help implement them • Promotes creativity • Increases available information • Increases employees’ commitment to plan

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