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Scenario planning for construction companies

conference contribution
posted on 16.11.2009, 12:30 authored by Robby SoetantoRobby Soetanto, Chris GoodierChris Goodier, Simon Austin, Andrew Dainty, Andrew Price
Ability to understand the future holds the key to sustained competitive advantage. The key question is how to embed this ability into the strategic management skill-sets of companies using appropriate tools, techniques and processes, and involving the appropriate stakeholders. Futures methodology literature suggests that scenario planning is a powerful technique for looking at the future that is rarely used in construction. An implementation framework for company scenario planning is proposed derived from relevant parts of the literature and evolved through a series of interactions with industry. The framework emphasises that the awareness of external factors and industry scenarios, and the extent of stakeholder engagement throughout the process will determine the overall efficacy of scenario planning. Benefits will accrue from having a common understanding of alternative futures by explicitly capturing perceived future events, drivers and pathways in scenario mapping exercises. This should place companies in a better position to navigate their future and deal with potential threats and opportunities.

History

School

  • Architecture, Building and Civil Engineering

Citation

SOETANTO, R. ... et al, 2007. Scenario planning for construction companies. IN: Hughes, W. (ed.). CME 2005 Conference: Proceedings of the Inaugural Construction Management and Economics ‘Past, Present and Future’ conference: 16th-18th July 2007, University of Reading, UK.

Publisher

University of Reading

Version

AM (Accepted Manuscript)

Publication date

2007

Notes

This is a conference paper.

ISBN

9780415460590;041546059X

Language

en