Scenario Planning vs Contingency Planning for Not For Profit Organizations

Scenario planning for Not For Profits involves looking at financial likelihoods or possibilities and planning around them. "If this happens, and this, then that becomes possible." Contingency planning, on the other hand, involves being prepared for the unexpected or unlikely. Today Raji Kalra shares her expert advice on how Not For Profits should strategically position each approach and how leaders can be better prepared. We also explore longer lessons learned from contingency planning during the pandemic, including what things might not return to the "old normal." Create The Next is delivered to you from ProCFO Partners. Every week, we explore strategies and ideas for financial management and growth to help today’s businesses put their financial picture in context. ProCFO Partners are expert financial officers networked across industries, verticals, specializations and situations. Fulfilling the role of a part-time CFO with all-time commitment, ProCFO Partners utilizes the innovative and exclusive FGC Financial Flywheel as a framework that creates momentum to drive your financial functions for sustainable success. Visit procfopartners.com to explore how we can implement a systematic and scalable financial system to help you achieve your goal.