One of the main topics in IT Portfolio Management, according to IT Governance models, is to plan and control information systems that are aligned with the company mission and objectives. The goal of the IT Portfolio Planning is to define which information systems are necessary and with which priority. In general, planning methodologies trace directions from a present point to a future and desired target. However, in many cases, companies can not control situations; events may occur that can not be avoided. A scenarios-based planning methodology can help managers to identify future events, their probability and consequences. A scenario represents a future situation that can not be controlled nor can be avoided. However, the study of future scenarios can help managers to plan reactions, so that company can create mechanisms for avoiding problems or for minimizing bad consequences. The goal of this chapter is to present an adaptation of the scenario-based methodology for IT and Information Systems Planning. The chapter will describe in details each step of the proposed methodology and discuss a study case. Steps include the identification of different scenarios and their corresponding antecedent events, the determination of probabilities and consequences of the events, how to calculate risks and how to plan Information Systems and IT resources to manage each scenario.
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