ABSTRACT
In competitive environments, senior managers expect to have standardized approaches and models to create long-term forecasts to support various types of strategic decisions. However, it is naïve for people to be looking for cookbook type of instructions on how to do strategic forecasting. The reality is that all projects are different and each decision needs a unique forecasting solution, which, in turn, requires the right mindset, processes, and principles applied and flexibility of strategic decision forecasting (SDF) team members to fit the situation. Strategic decisions require a long-term mindset and thinking; that is, focus not on getting immediate results, but on creating the conditions for company growth. The role of the SDF team, therefore, is to help decision makers identify future-state alternatives, what is needed to get there, create options, pick the best solution, determine project uncertainty and risks, and identify ways to manage them.
