Wednesday, 25 March 2020
As much of the world gets used to social distancing, school closures and restrictions in movement in response to the coronavirus pandemic, obvious questions are being asked about how governments and companies can prepare themselves for these sorts of extreme events. One technique that has gained prominence in helping business people and officials deal with events that have a low probability but high impact is called scenario analysis or scenario planning. There are a number of different methods that can be used to model scenarios, but in essence these all involve developing stories about a number of possible ways that…
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