Agile, Connected Planning
Any crisis, whether a global pandemic or one confined to a single company, tests the ability of an organization (and especially its executives and managers) to quickly respond to events by seizing opportunities, addressing problems or mitigating risk. Managing through a crisis demands action-oriented planning, but many organizations find this to be difficult. Executives need—but too often are unable get—precise and timely answers to what-if questions so they can confidently assess trade-offs when making decisions. As a result, they have difficulty aligning the plans of various operating groups to respond to changing circumstances in a coordinated fashion. And the finance team cannot quickly translate those plans into a consolidated set of pro-forma income statement, balance sheet and cash flow statements to understand the important financial aspects of a plan. The value of action-oriented planning is most apparent in a crisis, but it is equally important to the success of an organization under any circumstances.