Step 1 — Define the Scenario

Identify risks / scenarios and prioritize them based on their probability of occurring and their impact. Focus on the highest ranking events. Define the timeline of the scenario and it's quantifiable impact.


Step 2 — Generate Contingency Options

Generate options of how you could address the impending scenario. Organize by Must Do, Should Do and Could Do.

Must Immediate & preventative measures to reduce risks

Should Triggered measures which will be implemented if X occurs

Could Triggered measures which will have significant tradeoffs


Step 3 — Set Triggers, Timelines & Owners